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Briefs – Bechtel-Tellurian | Pivotal Energy

An affiliate of Bechtel Oil, Gas and Chemicals Inc. is taking a $50 million zero coupon preferred equity investment in Tellurian Inc. with an implied common share price of $8.16/share. Bechtel, a leading engineering, procurement and construction (EPC) operator, has with Tellurian constructed about 55 million metric tons/year (mmty) of liquefied natural gas (LNG) capacity. In November 2017, Tellurian and Bechtel signed four fixed price, lump sum turnkey agreements totaling $15.2 billion for EPC of Tellurian’s 27.6 mmty Driftwood LNG export project proposed near Lake Charles, LA. Bechtel, which overall has delivered 41 LNG trains on 16 projects in 10 countries, said its facilities account for about one-third of global LNG capacity.

Pivotal LNG, which secured a contract last fall to supply liquefied natural gas (LNG) to the National Aeronautics and Space Administration’s Marshall Space Flight Center, has made its first delivery to the Huntsville, AL, facility. Pivotal and parent Southern Company Gas operate a network of LNG production facilities with the capacity to produce over 554,000 gallons per day and the ability to store more than 96 million gallons. Pivotal and NorthStar Midstream are developing an LNG production facility in Jacksonville, FL, with that is expected to be in service by mid-year.

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