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U.S. Gas Export Developer Tellurian Surges on Shell Supply Deal

July 29, 2021, 6:27 PM

Tellurian Inc. shares jumped the most in almost two months after it inked a deal to supply Royal Dutch Shell Plc, bringing the natural gas export developer’s planned Louisiana terminal closer to reality.

Shell agreed to buy 3 million tons of liquefied natural gas per year from Tellurian’s Driftwood project over a decade, with the cargoes indexed to benchmark prices in Asia and Europe, according to a statement. The agreement marks the third deal Tellurian has finalized in 10 weeks, totaling more than half the capacity of the first phase of Driftwood. Shares rose as much as 16%. ...

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