Reuters
Tellurian, the developer of the Driftwood liquefied natural gas (LNG) project, has reached an agreement with an unnamed institutional investor to pledge its interest in the Driftwood project as collateral for the money it owes the investor, according to the company's latest SEC filing. Tellurian had warned investors last fall that continued operating losses and dwindling cash reserves might not last a year given operating and debt costs. The going-concern warning preceded its ouster of Chairman Charif Souki.
