U.S. LNG developer Tellurian Inc. said on July that units of French oil major Total SA have agreed to buy LNG from the U.S. company's proposed $30 billion Driftwood export project in Louisiana.

Total will buy one million tonnes per annum (mtpa) of LNG from Driftwood and invest $500 million in Driftwood Holdings LP, it said in a statement.

Total will also buy an additional 1.5 mtpa of LNG from Tellurian's offtake volumes from Driftwood. The deal involves LNG free on board at a price based on the Platts Japan Korea Marker (JKM).