Petronet LNG Ltd, a joint sector gas company in India, signed a memorandum of understanding (MoU) with the US-based Tellurian last month for import of liquefied natural gas (LNG). The MoU was signed during Prime Minister Narendra Modi’s highly publicized visit to Houston, Texas, for the ‘Howdy, Modi!’ rally.
However, the newspaper Business Standard has reported that there are concerns over the rate of growth of LNG demand in India because of the price-sensitive nature of the market.
Under the non-binding MoU signed Sept 21, Petronet and its affiliates have the option to buy 5 million tonne per annum (mtpa) of LNG from Tellurian’s Driftwood project in Louisiana. The deal comes with the option of making an equity investment. Read More