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LNG Developer Tellurian Reports a Full-Year Loss

HOUSTON, Feb 23 (Reuters) - Liquefied natural gas developer Tellurian Inc on Wednesday reported a narrower loss for the year that was aided by higher prices for its natural gas and natural gas liquids.

The U.S. company posted a loss of $114.7 million, or 28 cents per share, for the year ended Dec. 31, compared to a loss of $210.7 million or 79 cents per share in 2020.

Tellurian's loss per share for the year was larger than analysts expected, according to Refinitiv.

Tellurian, which said it produced 14.3 billion cubic feet (bcf) of natural gas last year, ended 2021 with $305.5 million in liquidity.

The company's chairman has said it plans to start construction in April on its proposed $16.8 billion Driftwood LNG plant in Louisiana using its access to capital and available liquidity. 

The company said it has initiated the Driftwood LNG financing process.

Reporting by Marcy de Luna; Editing by Alison Williams and Lisa Shumaker

Source: Reuters

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