India’s Petronet backs away from Driftwood LNG offtake
An MOU penned between Petronet and Tellurian for term offtake from the Driftwood LNG project has lapsed. Spot prices for liquefied natural gas delivered to Asia have collapsed, swinging the market in favour of Petronet and other LNG buyers who are now seeking lower-priced cargoes elsewhere
A deal between Petronet and Tellurian that was to expected to secure the first term offtake agreement for Driftwood LNG has expired as spot prices fall to record lows