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All eyes from LNG industry on Tellurian during Trump visit to India
India Prime Minister Narendra Modi and United States President Donald Trump enter the NRG Stadium stage as part of the Texas India Forum on Sunday, Sept. 22, 2019, in Houston. All eyes in the energy industry will be on Houston liquefied natural gas company Tellurian during President Donald Trump’s visit to India.
All eyes in the energy industry will be on Houston liquefied natural gas company Tellurian during President Donald Trump’s visit to India. Company officials told the Houston Chronicle that they will have a team in India during the president’s visit to the South Asian nation.
Details were not available but Trump’s visit to the subcontinent comes at a time when Tellurian is working to finalize the details of a $2.5 billion supply deal with India’s Petronet LNG by a March 31 deadline.
Indian Prime Minister Narendra Modi is expected to receive Trump on Monday. The presidential visit to India comes roughly five months after Modi visited Houston, which was the backdrop for the signing of a memorandum of understanding between Tellurian and Petronet LNG.
Headquartered in Houston, Tellurian received a federal permit in April 2019 to build its Driftwood LNG export terminal in Lake Charles, Louisiana. If the facility lands contracts and financing, it will be able to build a facility capable of producing and exporting up to 27.6 million tons of LNG per year.
Under the proposed deal with Tellurian, Petronet has pledged to invest $2.5 billion in the Driftwood LNG project, in exchange for the rights to 5 million metric tons of LNG per year over the lifespan of the project.
With slumping demand in China attributed to a warm winter and the ongoing coronavirus outbreak, India is emerging a growing buyer of LNG — as the South Asian nation, the world’s second most populous, seeks to increase the amount of electricity generated from natural gas.
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