Tellurian to go public through merger

Under the terms of the deal, Tellurian, which is developing the proposed Driftwood LNG mid-scale export project in Louisiana, will acquire 95% of Magellan.

Financial details of the deal were not disclosed.

Tellurian was founded earlier this year by former Cheniere Energy chief executive Charif Souki and ex-BG Gorup chief operating officer Martin Houston.

The transaction will allow Tellurian to access the public market for capital to fund construction of the 26-million-tonne Driftwood LNG project, which is expected to cost $8 billion.

Magellan