Equinor Signs 15-Year LNG Supply Deal With Deepak Fertilisers
By Dominic Chopping
Equinor has signed a 15-year deal to supply liquefied natural gas to Indian fertilizer and petrochemical company Deepak Fertilisers.
The agreement covers an annual supply of around 650,000 metric tons of LNG, or around 9 terrawatt hours, from 2026.
Deepak will use the gas mainly as feedstock for production of ammonia in its newly commissioned plant for manufacturing fertilizers and petrochemicals.
"The agreement will provide reliable supplies of feedstock which will further strengthen Deepak Fertilisers' value-chain from gas to ammonia, the key ingredient in fertilizers. The agreement will help us absorb global volatility as well as enhance overall margins," said Sailesh C. Mehta, Chairman and Managing Director of Deepak Fertilisers and Petrochemicals Corporation.
Financial terms weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
February 19, 2024 08:17 ET (13:17 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks