Petronet signs MoU with US natural gas firm Tellurian in PM Modi’s presence
US natural gas company Tellurian Inc. and Petronet LNG Limited (PLL) of India have signed an 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, which remains subject to further due diligence and approval of its board of directors, the two companies announced on Saturday.
Tellurian and Petronet will endeavour to finalise the transaction agreements by March 31, 2020, they added.
The announcement came after Prime Minister Narendra Modi had a meeting with the CEOs of top oil companies based in the US here on Saturday.
