Modi visit to Houston backdrop for one of the largest LNG deals in U.S. history

[Elderberry]

Houston Chronicle by  Sergio Chapa Sep. 21, 2019

A visit to Houston by Indian Prime Minister Narendra Modi has become the backdrop for one of the largest liquefied natural gas supply deals in U.S. history.

Executives with Houston liquefied natural gas company Tellurian and India’s Petronet LNG signed a $2.5 billion deal in Modi’s presence during a private Saturday evening ceremony at the Post Oak Hotel at Uptown in Houston's Galleria district.

Under the deal, Petronet pledged to invest $2.5 billion in Tellurian’s proposed Driftwood LNG export terminal in Lake Charles, La., in exchange for the rights to 5 million metric tons of LNG per year over the lifespan of the project.

In an exclusive interview with the Houston Chronicle, Tellurian board Chairman Charif Souki called the deal a “win-win-win” for the United States, India and the company.

“It’s a win for the United States because it creates an outlet for our surplus gas,” Souki said. “It’s a win for India because they have secured cheap gas for a long period of time. And it’s a win for Tellurian because we have provided a bridge between a nation with too much gas and a nation that needs as much gas as it can get as an affordable price.”

More: https://www.houstonchronicle.com/business/article/Modi-visit-to-Houston-backdrop-for-one-of-the-14458413.php

[IsailedawayfromFR]

Impressive.

What may be most impressive is that India would have been negotiating with the arabs in Qatar instead of coming to Houston.

Our abilities to cheaply extract a wealth of natural gas and sell it in the form of LNG cheap is the business success story of the past decade.