Modi visit to Houston backdrop for one of the largest LNG deals in US history

September 22, 2019 17:35

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 US history.

Executives with Houston liquefied natural gas company Tellurian and Indias Petronet LNG signed a $2.5 billion deal in Modis 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 Tellurians proposed Driftwood LNG export terminal in Lake Charles, 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.

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