India’s Petronet lines up Driftwood LNG equity investment
US LNG Export project developer, Tellurian signed a memorandum of understanding (MOU) with Petronet LNG on potential investment in the Driftwood LNG project proposed near Lake Charles, Louisiana, on the U.S. Gulf Coast.
Driftwood project includes a 27.6 mtpa liquefaction export facility and Driftwood Pipeline is the 96-mile proposed pipeline connecting to the facility, Tellurian said in a statement.
President and CEO Meg Gentle noted that Petronet is India’s largest LNG importer, operating 20 million tonnes per annum of receiving terminal capacity with an additional 2.5 mtpa of capacity under construction at its Dahej expansion and a further 5 mtpa proposed at Gangavaram.
Driftwood LNG and Driftwood Pipeline have received the final environmental impact statement (EIS), and Tellurian expects to make a final investment decision and begin construction in the first half of 2019.
Driftwood expects to reach the final investment decision on the project and start construction in the first half of the year with operations expected to start in 2023.