OIL & GAS
Tellurian to sign $2.5B gas deal during Trump’s India visit
- Tellurian (TELL +6.6%) and top Indian natural gas exporter Petronet LNG are set to sign a $2.5B deal during Pres. Trump’s trip to New Delhi, India, this month, Reuters reports.
- Petronet will invest the money over a five-year period in Tellurian’s proposed $27.5B Driftwood LNG export project in Louisiana, giving the Indian firm an equity stake in the project and rights for as much as 5M metric tons/year of liquefied natural gas, according to the report.
- The delivered price of gas to India reportedly would be below $6/MMBtu, which would work out to ~30% cheaper than India’s current long-term deals with Qatar.
