(NYSEMKT: TELL) has tanked in 2023. Shares of the liquefied natural gas (LNG) company have fallen over 50%, woefully underperforming the market (the S 500 has rallied nearly 25%). Several factors have weighed on the energy company, including lower natural gas prices and rising interest rates.

While Tellurian is having a down year, the energy stock has a potentially massive catalyst on the horizon. Here's a look at whether that upside potential makes it a screaming bargain or a value trap.

Tellurian is working toward one goal. The company is developing the Driftwood LNG facility in Lake Charles, LA. The LNG terminal would have the capacity to export 27.6 million tons of LNG annually. The company has already started construction of the facility. The first phase would have two LNG plants and 11 million tons of LNG export capacity. It could start producing LNG by the end of 2026.

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Source Fool.com