Shares in US Tellurian LNG firm jump 56 percent to signal deal with Petronet of India may be back on track
Tellurian Inc. appears to be set to renew its preliminary liquefied natural gas supply and equity investment deal with Indian importer Petronet LNG as the US firm’s shares jumped by more than 56 percent on the Nasdaq global exchange after leaks by executives.
Trump LNG signing plan
Feb 3 (LNGJ) - Indian importer Petronet LNG is expected to sign a firm supply agreement with Gulf Coast liquefaction plant developer Tellurian Inc. during the scheduled visit to India on February 24-25 of US President Donald Trump. The initial agreement between Houston-based Tellurian and Petronet for up to 5 million tonnes per annum of US LNG was signed during a visit to the Texan city in September 2019 by Indian Prime Minister Narendra Modi.
Petronet is also negotiating an equity investment in Tellurian’s Driftwood project proposed for the west bank of the Calcasieu River, south of Lake Charles in Louisiana, and with output of just over 26 million tonnes per annum when completed in 2023.
