Equinor signs 15-year LNG deal with Deepak Fertilisers

PUNE, February 19, 2024 – Equinor has signed an agreement with India’s Deepak Fertilisers covering 15 years of LNG supply, the Norwegian company announced on Monday.

The agreement involves the supply of 650,000 tonnes per year beginning in 2026.

The LNG will mainly be used for the production of ammonia from Deepak’s newly built fertilisers and petrochemicals plant. Output from the plant will be directed toward domestic consumption.

“The agreement will help us absorb global volatility as well as enhance overall margins,” Sailesh C. Mehta, Deepak’s chairman and managing director, said. “We also look forward to exploring with Equinor further collaboration on feedstock and carbon footprint reduction initiatives.”

Deepak Fertilisers is among India’s largest manufacturers of chemicals. Its portfolio is focused on industrial chemicals, crop nutrition and technical ammonium nitrate (mining chemicals).

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