July 22, 2020 / 1:31 PM / 17 days ago

Tellurian evaluating changes to Driftwood project, warns of impairment charges

July 22 (Reuters) - Tellurian Inc is evaluating certain changes to its Driftwood export project in Louisiana that could significantly reduce the overall Phase 1 costs, the U.S. liquefied natural gas producer said on Wednesday.

The company warned of substantial impairment charges in the second quarter related to its reserves and the carrying value of its assets, if gas prices do not increase.

Tellurian, however, did not provide details on how much costs they are looking to reduce. (Reporting by Shradha Singh in Bengaluru; Editing by Shailesh Kuber)

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