Reuters recently reported India’s top gas importer Petronet LNG and U.S. liquefied natural gas (LNG) developer Tellurian Inc. are preparing to sign a $2.5 billion deal during President Trump’s visit to New Delhi later this month. Petronet will invest the money over a five-year period in Tellurian’s proposed $27.5 billion Driftwood LNG export project in Louisiana. The deal will give Petronet equity in the project and rights up to 5 million tonnes of LNG per year. Driftwood LNG, one of several multi-billion dollar LNG export projects underway across the state, will be able to export 27.6 million tonnes of LNG a year once complete.
Below is a statement that can be attributed to me, Craig Stevens, spokesman for the GAIN Coalition:
“The GAIN Coalition commends Petronet LNG and Tellurian Inc. for this historic agreement. This deal is a key step in bolstering India-U.S. trade relations by ensuring a long-term energy supply to the largest democracy on the planet. Record domestic energy production has positioned the U.S. to not only meet the growing energy needs of Americans – but also for our allies and developing economies abroad.
“In addition to providing the people of India with reliable access to natural gas, this agreement provides billions of dollars in economic opportunity to the state of Louisiana, strengthens American national security, and provides stability to the global energy market. Further investment in our nation’s critical energy infrastructure will welcome additional trade opportunities with our allies around the globe.”