Petronet to invest $2.5 bn in Tellurian’s Louisiana project

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News:Indian Prime Minister has met the US President on the visit to the US for the UN General Assembly meeting on September 27,2019.

Facts

Highlights of the meeting:

  • Indian Prime Minister held a meeting with the CEO’s of 17 global energy companies in Houston,US.
  • The objective of the meeting was to deepen our energy cooperation as part of our strategic energy partnership 
  • During the meeting,India’s Petronet LNG Limited(PLL) has signed an MoU with US natural gas company Tellurian Inc of 2.5-billion liquified natural gas(LNG) supply.
  • As per the MoU,Petronet will invest in Tellurian’s proposed Driftwood LNG export terminal in exchange for the rights to 5 million metric tonnes of LNG per year for over 40 years 
  • India and the US has also planned to further strengthen their Strategic Energy Partnership that was launched in New Delhi in April,2019.
  • They have created four working groups under the Strategic Energy Partnership namely (a)oil and gas (b)power and energy efficiency, (c)renewable energy and (d)sustainable development.