LNG Venture Reaches Tentative Supply Deal With Petronet

Law360, New York (April 25, 2013, 6:06 PM EDT) -- Houston-based United LNG LP has crafted a preliminary deal to supply India's Petronet LNG with fuel from a Gulf of Mexico project that it is co-developing with Freeport McMoRan Energy LLC, the companies announced Thursday.

Per the conditional agreement, Petronet is looking to purchase a minimum of 4 million tons of liquefied natural gas every year for 20 years in what is expected to be its first U.S.-based supply off-take agreement for LNG.

Financial details of the agreement, which will score LNG from United and Freeport's...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.