Oil and Gas

Petronet LNG to sign $2.5 bln U.S. gas deal during Trump's India visit

NEW DELHI, Feb 3 (Reuters) - India’s top gas importer Petronet LNG will sign a deal to invest $2.5 billion in a U.S. liquefied natural gas (LNG) export project with Tellurian Inc during President Donald Trump’s visit to New Delhi later this month, two sources familiar with the matter said.

Petronet will invest the money over a five-year period in Tellurian’s proposed $27.5 billion Driftwood LNG export project in Louisiana and the deal will give Petronet rights to up to 5 million tonnes a year of LNG, the sources said.

The deal is expected to strengthen trade ties between India and the United States as President Trump wants to boost energy supplies to India, the world’s third biggest oil importer, to fix their trade balance. (Reporting by Nidhi Verma; Editing by Christian Schmollinger)