India's Petronet LNG renews investment deal with Tellurian Inc's Driftwood project: Sources

NEW DELHI/NEW YORK: India's top gas importer Petronet LNG has renewed its initial deal to consider investing $2.5 billion in U.S. liquefied natural gas (LNG) developer Tellurian Inc's Driftwood project, Indian sources familiar with the matter said.

Petronet and Tellurian now have time until the end of December to finalise the deal, they said.

The memorandum of understanding, which lapsed on May 31, was renewed last week ahead of a virtual meeting between Indian oil minister Dharmendra Pradhan and U.S. Energy Secretary Dan Brouillette.