(LiveMint)
Tellurian Inc. has signed a $7.5 billion agreement for India’s Petronet LNG Ltd to buy a stake in its proposed liquefied natural gas (LNG) terminal in Louisiana, in what could potentially be one of the largest foreign investments in the US for shipping shale gas abroad.
Petronet will spend $2.5 billion for an 18% equity stake in the $28 billion 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 (CEO) Meg Gentle said. The companies plan to complete the agreement by 31 March, by which time Tellurian hopes to have signed up partners to enable it to proceed with the project.
