(ET)
India’s Petronet LNG is set to sign a deal with US liquefied natural gas (LNG) developer Tellurian Inc worth more than $2 billion in the proposed Driftwood project in Louisiana, two sources told. This will be part of wider cooperation between both countries, with Indian Prime Minister Narendra Modi expected to meet US President Donald Trump in Houston this weekend to discuss ways to deepen their energy and trade relationship.
India could increase its trade footprint at a time when the United States and China are in the midst of a tit-for-tat trade war, analysts have said. Petronet will sign a memorandum of understanding (MOU) with Tellurian on Saturday to invest $2.5 billion for rights of up to 5 million tonnes a year of LNG over the lifespan of the project, two sources familiar with the matter said.
