IOC in talks with Tellurian of US for long-term LNG deal

Indian Oil Corp (IOC) is in talks with US vitality agency Tellurian Inc for a long-term liquefied pure fuel (LNG) provide deal in addition to an fairness funding within the latter’s Driftwood undertaking, based on a report citing folks acquainted with the matter.

Turmoil within the worldwide market has made it more durable for IOC to supply reasonably priced LNG. Indian Oil, Petronet LNG and GAIL are all in search of long-term contracts however have been unable to chop any deal that may carry provides forward of 2026, when giant international liquefaction capability is anticipated to come back onstream, easing the present crunch.

Indian Oil has begun discussions with Tellurian however is but to agree on quantity or the fairness funding in Driftwood LNG undertaking.

Tellurian mentioned in response to a question, “Now we have watched with admiration the funding India has made in pure fuel infrastructure and can be delighted to work with Indian corporations on provide. Tellurian is prioritising strategic fairness companions who might want LNG offtake for his or her portfolios, and has freed up 6 mt throughout the first section of Driftwood for that goal.”

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