India’s Petronet LNG is set to sign a deal with US liquefied natural gas (LNG) developer Tellurian Inc worth more than $2 billion in the proposed Driftwood project in Louisiana, two sources told Reuters.
This will be part of wider cooperation between both countries, with Indian Prime Minister Narendra Modi expected to meet US President Donald Trump in Houston this weekend to discuss ways to deepen their energy and trade relationship.
India could increase its trade footprint at a time when the United States and China are in the midst of a tit-for-tat trade war, analysts have said.
Petronet will sign a memorandum of understanding (MOU) with Tellurian on Saturday to invest $2.5 billion for rights of up to 5 million tonnes a year of LNG over the lifespan of the project, two sources familiar with the matter said. Read more
Latest posts by The Economic Times (see all)
- Solar PV cells manufactured using ‘blue wafers’ no longer to be classified as domestically manufactured cells: MNRE - October 23, 2019
- A $163 billion sector is fighting against a hazardous future - October 23, 2019
- Here’s what’s in for the residential sector in the implementation of phase-II of Grid Connected Rooftop Solar Programme - October 23, 2019