NEW YORK: Tellurian Inc said it signed a US$7.5bil agreement for India’s Petronet LNG Ltd to buy into its proposed liquefied natural gas terminal in Louisiana, in what could potentially be one of the largest foreign investments in the United States to ship shale gas abroad.
Petronet will spend US$2.5bil for an 18% equity stake in the US$28bil Driftwood LNG terminal – the largest outside holding so far in the project – and negotiate the purchase of 5 million tonnes of gas per annum. The remainder of the total will come from debt, Tellurian chief executive officer Meg Gentle (pic) said.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
