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Tellurian and Gunvor sign 10-year LNG agreement for 3 mtpa

5/27/2021

Tellurian - Press release

Tellurian and Gunvor Sign 10-year LNG Agreement for 3 mtpa

Tellurian Inc. (Tellurian) (NASDAQ: TELL) and Gunvor
Singapore Pte Ltd (Gunvor) announced today a liquefied natural gas (LNG) sales and
purchase agreement (SPA) for three million tonnes per annum (mtpa) for a ten year period,
indexed to a combination of two indices; the Japan Korea Marker (JKM) and the Dutch Title
Transfer Facility (TTF), netted back for transportation charges. The LNG would be delivered
free on board (FOB) from Tellurian’s Driftwood LNG, a 27.6 mtpa liquefaction facility
proposed near Lake Charles, Louisiana in the United States Gulf Coast.

President and CEO Octávio Simões said, “Tellurian intends to market up to 10 mtpa of LNG
in our first phase on a JKM, TTF or blended price basis, as our integrated model provides
the flexibility to offer this valuable product. We welcome Gunvor, the largest independent
global trader of LNG volumes, to Driftwood and look forward to providing a cleaner fuel to
meet growing global energy needs and enable energy access.”

Executive Vice President LNG Marketing & Trading Tarek Souki added, “Our business
model creates significant value for Tellurian; at today’s LNG prices, this agreement
represents the equivalent of approximately $12 billion in revenue over the 10-year term of
the agreement.”