Meeting with 17 CEOs of Modi's energy sector: potential for large-scale investment in the country

(PTI) Houston, Ta. September 22, 2019, Sunday

Prime Minister Narendra Modi begins his fourth trip to the US with a roundtable meeting with 17 CEOs of the Howdy Houston tweet and energy sector.

The combined net worth of these US companies is Rs 1 lakh crore and they operate in over 150 countries including India in the world. The meeting was signed with Petronet, India's largest LNG importer and Driftwood of American Tellurion Inc., a purchase of 5 million tonnes of gas annually.

Prior to the Howdy Modi program in Houston, Prime Minister Modi met with the top 17 CEOs of the US oil and gas sectors to discuss how they can accelerate opportunities to meet India's growing energy needs.

The roundtable meeting discussed the expansion of mutual investment opportunities between India and the United States and working together for energy security. PM Modi, who was on a weeklong trip to the United States, tweeted after the meeting: "It's impossible to come to Houston and talk about energy. Meeting with the CEO of America's Energy Sector has been very rewarding. We discussed finding opportunities in the energy sector. '

Foreign Ministry Spokesperson Ravish Kumar said, "The meeting was attended by CEOs of the world's 17 leading energy companies. All the companies participating in this meeting are somehow operating in India. During the meeting, the Prime Minister was witness to a Memorandum of Understanding between US natural gas company Tellurion Inc. and Petronet LNG Limited of India.

Under this agreement, Petronet LNG will invest US $ 2.5 billion in Tellurian's proposed driftwood LNG export terminal and will receive 40 million metric tons of LNG annually for the next 40 years. The transactions between the two companies will be finalized by March 31, 2020.

Earlier, the Prime Minister's Office (PMO) posted some photographs of Modi meeting with the CEO of some of the top oil companies in the US. PMO tweeted, 'This meeting will make India-America friendly relations more energetic. PM Modi's first meeting in Houston was with the energy sector CEO. India and the US are looking at diversified cooperation in this sector. '