Equinor Signs 15-Year LNG Deal with India's Deepak Fertilizers
(Reuters) — Norway's Equinor said on Monday it had signed a 15-year agreement to supply liquefied natural gas (LNG) to India's Deepak Fertilizers from 2026.
The agreement covers an annual supply of around 0.65 million tons (around 9 terawatt hours) and will be used mainly as a feedstock for production of ammonia at a newly commissioned fertilizers and petrochemicals plant, Equinor said.
"Deepak’s new ammonia plant has created new gas demand in the growing Indian market," Equinor's head of Gas & Power, Helge Haugane said in a statement.
The ammonia which Deepak will produce from the natural gas will be for domestic use.
The LNG will come from Equinor's global portfolio which is based on its plant at Melkoeya island just outside the Arctic town of Hammerfest, and sourced mainly from the United States, it said.
"The agreement will help us absorb global volatility as well as enhance overall margins," Deepak Chairman and Managing Director Sailesh Mehta said in the statement.
No financial details were provided.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- US Poised to Become Net Exporter of Crude Oil in 2023
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
Comments