Skip to comments.Modi visit to Houston backdrop for one of the largest LNG deals in U.S. history
Posted on 09/22/2019 1:26:46 AM PDT by 2ndDivisionVet
A visit to Houston by Indian Prime Minister Narendra Modi has become the backdrop for one of the largest liquefied natural gas supply deals in U.S. history.
Executives with Houston liquefied natural gas company Tellurian and Indias Petronet LNG signed a $2.5 billion deal in Modis presence during a private Saturday evening ceremony at the Post Oak Hotel at Uptown in Houston's Galleria district.
Under the deal, Petronet pledged to invest $2.5 billion in Tellurians proposed Driftwood LNG export terminal in Lake Charles, La., in exchange for the rights to 5 million metric tons of LNG per year over the lifespan of the project.
In an exclusive interview with the Houston Chronicle, Tellurian board Chairman Charif Souki called the deal a win-win-win for the United States, India and the company.
Its a win for the United States because it creates an outlet for our surplus gas, Souki said. Its a win for India because they have secured cheap gas for a long period of time. And its a win for Tellurian because we have provided a bridge between a nation with too much gas and a nation that needs as much gas as it can get as an affordable price.
(Excerpt) Read more at houstonchronicle.com ...
This is great news.
I hope it actually gets reported far and wide.
How can one man do so much for the country and be hated by so many?
I was 12 when The Great One was elected.
Anybody know if he was hated as much by dems and the insane left voting base?
Thanks ahead of time..
When did they start calling the Galleria area “Uptown?”
Remember before the election when the Democrats said that if he was elected, the economy would go through the floor.
Surprise....and I say that with a bit of caution because "cocky" is not the right attitude.
But wait....the left has said “no more natural gas”.
Well that explains why Modi went to Texas.
We have a lot more oil and gas capacity coming online over the next two years. We are going to need massive new customers, and India is at the top of the list (with China, the EU and Japan). They need the oil and gas.
Our pipelines are currently carrying more than they were designed for (almost 9 million barrels per day). But another 5.6 million barrels per day of pipeline capacity is being built to come online over the next two years. The next quarter is actually going to see a big jump. Almost all for export. The Permian Basin in Texas has about half of the working oil rigs in the World today.
Also, Corpus Christi Port is well down the road to tripling its export capability. They will become a significant second Houston for export capacity.
Since the export ban was lifted at the end of 2015, US production has surged a million to one and a half million more barrels per day each year, even through a huge collapse in prices, where OPEC tried to kill off US export growth in its infancy.
Nonetheless, the USA has been supplying 80% of the new growth in demand globally, and we a on track to keep doing that for the next few years as well - giant new markets overseas will be needed.
I’m surprised that Tellurian can’t also claim a carbon tax reduction credit or something. “In addition, Tellurian receives a $10 million dollar carbon tax deduction by removing carbon emissions from the USA and sending them to India which is not covered by the UN mandated carbon reduction plan.”
Hmm. Here in Washington state they just shut down the plans for a LNG export port. Perhaps the LNG folks can sell it as a “USA carbon emissions reduction facility” instead.
I was 37 when Ronald Reagan was elected. The press made him out to be an amiable dunce who was hard of hearing. RR had an easy act to follow. Jimmy Carter was a disaster as President.
The glut of NG has all but shutdown any operations because of the Gulf Coast structures contain trillions upon trillions of cubic feet of it and not the quantities of oil that the Permian Basin or Eagleford has.
No market, no leases or drilling. There are many pipelines going in in preparation for the next wave of exploration.
Baltimore and Philly have LNG export terminals. More need to be built on the East coast, but liberal states will block them.
Same is true in the west....which is why Canada was going to be the export terminal until Obama & Trudeau blocked it. They knew Washington, Oregon and California would block any export terminal.
In Houston...that makes Say Howdy to Modi make a lot more sense.
Here in Washington state they just shut down the plans for a LNG export port.
Seattle is the next San Fran with ever-growing tent cites featuring: free tents, free needles, free drugs, free piles of garbage, fee piles of human waste.
Since we’re exporting, why do we need Saudi Arabia? We do NOT need to send any of our troops over there.
Reagan was hated by the left.
Stupid, stupid, stupid. But Washington state is run by the same class of liberal/socialist idiots that the Democrats are running for president. I should know...I lived there for 25 years, and just moved to San Antonio (originally from Louisiana and VERY conservative). The liberal cuckooness finally reached the point that I couldn't take it any more.
Our need is oil, natural gas much less so. Fracking produces much more gas than oil, so there is currently a surplus of gas, which is these days almost a waste product of getting the oil. Give it time...we'll surpass the Saudi's for oil shortly.
Mr President, About that magic wand...
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