During PM Modi’s visit to the United States, a MoU, instead of an actual agreement, was singed for the $2.5 billion investment planned by Indian PSU Petronet in American LNG company Tellurian’s Driftwood LNG terminal.
About:
Petronet LNG Limited, was formed as a Joint Venture by the Government of India to import LNG and set up LNG terminals in the country.
It involves India's leading oil and natural gas industry players with its promoters being GAIL, ONGC, IOCL and BPCL.
It has set up the country's first LNG receiving and regasification terminal at Dahej, Gujarat, and another terminal at Kochi, Kerala.
Headquarters: New Delhi.
In September 2019, PetroNet signed an MoU with United States-based Tellurian Inc to purchase a stake in the latter's Driftwood project in Louisiana and to import 5 million tonnes of LNG annually. The deal is expected to be finalized by 31 March 2020.
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