Question : Purchase of LNG

(a) whether it is a fact that the Petronet LNG Limited, a firm promoted by GAIL, IOCL, ONGC and BPCL has signed a Memorandum of Understanding (MoU) with the US firm Tellurian to purchase 5 million tonnes per annum of Liquefied Natural Gas (LNG) from Driftwood, concurrent with its equity investment and if so, the details thereof;
(b) whether the Petronet LNG Board had not favoured such a deal in April/May this year; and
(c) if so, the details thereof and the reasons for going for such a deal now?

MINISTER OF PETROLEUM AND NATURAL GAS
(SHRI DHARMENDRA PRADHAN)
(a) to (c): A statement is laid on the Table of the House.
STATEMENT REFERRED TO IN REPLY TO PARTS (a) to (c) OF THE LOK SABHA STARRED QUESTION NO.*113 ASKED BY SHRI SUBBARAYAN K., MP AND SHRI M. SELVARAJ, MP TO BE ANSWERED ON NOVEMBER 25, 2019.
(a) to (c) Petronet LNG Limited (PLL) has executed a Non-Binding-Memorandum of Understanding (MOU) on September 21, 2019, with M/s Tellurian Inc, who are developing Driftwood LNG terminal in USA. The MoU is Non-Binding in Nature and as per the MoU, PLL (and/or its affiliates) would explore the possibility of making an investment, if found feasible based upon techno commercial & financial evaluation. This in turn will get PLL the right to purchase from 1 MMTPA - up to 5 MMTPA of LNG.
PLL had initially signed a non-binding MOU with M/s Tellurian Inc on February 14, 2019 and same was informed to its Board in the meeting held on 9th April, 2019. The above non-binding MOU expired on June 30, 2019. In continuation of the same this non-binding MOU was again signed on September 21, 2019 with expanded terms with M/s Tellurian Inc, of which the PLL Board has been kept informed.
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