PM Modi in America: India goes to the US to get environment-friendly LNG
For its energy security India has started the exercise to build a gas economy that is environment friendly too. India has been exploring different markets including in Africa, Latin America, the US and Russia as it is trying to ensure it has alternative choices outside the Middle East.
Sources have confirmed that India’s largest LNG importer Petronet LNG Ltd (PLL) is likely to invest around $ 2.5 billion and to pick up 20 percent stakes in the US based natural gas company Tellurian’s Driftwood project.
According to a MoU which was inked in the presence of Prime Minister Narendra Modi, it is mentioned that PLL will make investment in the equity of Driftwood project located in Louisiana to secure the LNG and that PLL and its affiliates will be importing for up to 5 Million tonnes of LNG from the US over a 40 year period.
