Unites States and India have had a good social and political relationship, and this has only grown with Modi coming into power in 2014 and again this year.
While the Indian Prime Minister, Narendra Modi visited the United States he also visited Houston and stated that it was impossible to visit Houston and not talk energy while he met with major global energy CEOs and some more energy-related officials from the state. With this meet of the Indian Prime Minister both the nations are hoping to strengthen their cooperation on the energy security issue and extend this among other lines of energy consumption as well as research and developments across the spectrum. In the presence of the Indian Prime Minister an MoU was signed between US natural gas company Tellurian Inc. and Petronet LNG Limited (PLL) of India after the meeting. Through this MoU PLL is expected to invest USD 2.5 billion in Tellurian’s proposed Driftwood LNG export terminal, in exchange for the rights to 5 million metric tons of LNG per year over 40 years. The two companies will endeavor to finalize the transaction agreements by March 31, 2020.
With these kinds of deals in place, the US-India friendship and alliance is set to grow even stronger and the energy markets are will also favor and benefit from this as India is a huge market for almost anything. These new developments are set to make a huge impact on the energy markets globally and are a new step to enhance the US-India energy fields and researches.