Tellurian Inc. said it signed a $7.5 billion agreement for India’s Petronet LNG Ltd. to buy into its proposed liquefied natural gas terminal in Louisiana, in what could potentially be one of the largest foreign investments in the U.S. to ship shale gas abroad.
French energy major Total said it will invest more than $700 million in Houston-based Tellurian and its Driftwood liquefied natural gas export project in Louisiana.
Tellurian, the Houston liquefied natural gas company co-founded by ex-Cheniere Energy boss Charif Souki, said U.S. steel tariffs could raise costs of the $15.2 billion Driftwood LNG export terminal under construction in Louisiana.
Tellurian Investments and Magellan Petroleum Corporation completed have finalized their merger.
Total has invested $207million in n Tellurian to develop an integrated gas project.