The Indian energy company Petronet LNG invests $ 7.5 billion into an American LNG project by Tellurian. This concerns, among other things, a realizable liquefied natural gas terminal in Louisiana. The capital injection is one of the largest foreign investments in an American shale project ever.
Petronet pays, among other things, 2.5 billion dollars for an 18 percent stake in the Driftwood LNG terminal. Negotiations are taking place on the purchase of 5 million tonnes of gas per year. The agreement must be cast in concrete by the end of March next year.
India is one of the fastest growing markets for LNG. The country is also one of the largest importers of liquefied natural gas worldwide. The signing of the provisional contract coincided with the visit of Prime Minister Narendra Modi of India to the US.
About the author: Matthew Johnson
Matthew Johnson, a small tech business owner retired and found his passion in journalism.