Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on February 19 mentioned it has entered right into a long-term settlement with Norway’s Equinor for supply of Liquefied Natural Gas (LNG).
In a regulatory submitting, DFPCL mentioned the a long-term LNG contract will strengthen its worth chain from gasoline to ammonia to varied downstream fertilisers, industrial chemical compounds, and mining chemical compounds.
This end-to-end tie-up shall set up a powerful long-term basis for all of DFPCL’s product segments.
“This agreement is for annual supplies of up to 0.65 million tonnes over a period of 15 years, beginning 2026. The tie-up provides room for trading some LNG parcels in the growing demands in India as well as accommodating DFPCL’s growing captive needs,” the corporate mentioned.
The LNG can be delivered to the west coast of India, the corporate mentioned.
Equinor, erstwhile Statoil, is among the many established leaders within the oil & gasoline sector over the past 50 years, with a market cap of $75 billion whereby majority shares are owned by the Norwegian authorities.
The settlement signed by Irene Rummelhoff, Executive Vice-President, Equinor, and Sailesh C Mehta, Chairman & Managing Director, DFPCL, is without doubt one of the largest contracts signed by Equinor with a non-public sector firm in India.
DFPCL is at a sophisticated stage of tying up the regasification terminal with the gasoline pipeline grid connectivity to its plant’s doorstep already in place.
DFPCL has crops in 4 states — Maharashtra (Taloja), Gujarat (Dahej), Andhra Pradesh (Srikakulam), and Haryana (Panipat).
