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Petronet board was cool to US LNG deal in April-May, signs MoU now

Updated : September 24, 2019 10:19 AM IST

Petronet board members had felt in April that it should not go ahead with the deal due to changing global gas market dynamics, where the fuel is available in abundance at rock bottom prices.
Petronet promoters, including GAIL, IOC and ONGC, believed that locking imports for 40 years together with an equity investment in the LNG terminal was not a good option at this point of time.
The Indian firm on Sunday evening in a regulatory filing said it had signed a "non-binding" MoU with Tellurian at Houston, USA.
Petronet board was cool to US LNG deal in April-May, signs MoU now

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