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Tellurian-Petronet MoU for LNG imports signed

Driftwood gas set for Indian market

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Driftwood gas set for Indian market

 

Tellurian.

 

Tellurian Inc and Petronet LNG Limited India (PLL) have signed a Memorandum of Understanding (MOU) wherein Petronet and its affiliates intend to negotiate the purchase of up to five million tonnes per annum (5 mtpa) of liquefied natural gas (LNG) from Driftwood, concurrent with its equity investment.

Tellurian and Petronet will endeavor to finalize the transaction agreements by 31 March 2020, said the Houston-based supplier on 21 Sept 2019.

President and CEO Meg Gentle said, “Petronet, India’s largest LNG importer, will be able to deliver clean, low-cost, and reliable natural gas to India from Driftwood.

“Increasing natural gas use will enable India to fuel its impressive economic growth while contributing to a cleaner environment. It is an honor to sign the MOU with Petronet in the presence of Prime Minister Narendra Modi.

The Driftwood project includes natural gas production, gathering, processing, and transportation facilities, along with Driftwood LNG, a proposed ~27.6 mtpa liquefaction export facility that will be located near Lake Charles, Louisiana on the U.S. Gulf Coast.

In April, the US Federal Energy Regulatory Commission (FERC) issued the order granting authorization for Driftwood LNG and the 96-mile Driftwood Pipeline, which will inter-connect the LNG terminal to the U.S. natural gas market.

Tellurian was founded by Charif Souki and Martin Houston and is led by President and CEO Meg Gentle. Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide.

Tellurian is developing a portfolio of natural gas production, LNG trading, and infrastructure that includes an ~27.6 mtpa LNG export facility and an associated pipeline. fiinews.com

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