Petronet Inks MoU with US Firm Tellurian to Import 5 Million Tonnes LNG

New Delhi, September 22, 2019:

India’s Petronet has signed a Memorandum of Understanding (MoU) with US firm Tellurian Inc. to import up to 5 million tonnes per annum of liquefied natural gas (LNG).

The MoU was inked on Day 1 of Prime Minister Narendra Modi’s visit to the US for the much awaited Howdy Modi event.

In a statement released by Petronet LNG Limited (PLL), it said that it will be able to deliver clean, low-cost and reliable natural gas to India from Driftwood.

The increase in natural gas would further enable India to fuel economic growth and achieve Prime Minister Modi’s goal of making the country a $5 trillion economy while contributing to a cleaner environment, the statement added.

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US firm Tellurian President and CEO Meg Gentle said that it was an honour to sign the MoU with Petronet and the company was looking forward to a long and prosperous partnership on the Driftwood Project.

The transaction between the two companies is set to be finalised by March 31, 2020.

It is to be mentioned here that the Driftwood project includes natural gas production, gathering, processing and transportation facilities.

It also includes the Driftwood LNG, a proposed 27.6 mtpa liquefaction export facility, that will be located near Lake Charles, Louisiana on the US Gulf Coast.

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