Deepak Fertilisers signs 15-year LNG contract with Norway-based Equinor [Video]

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on Monday (February 19) said it has entered into a long-term supply agreement for liquefied natural gas (LNG) with Equinor, an international energy company headquartered in Norway.

With this tie-up, Deepak Fertilisers strengthens its value chain with a long-term LNG contract to solidify its value chain from gas to ammonia to various downstream fertilisers, industrial chemicals and mining chemicals, according to a stock exchange filing.

Equinor, which was earlier known as Statoil, is among the global leaders in the oil and gas sector, with a presence across 50 years and a market cap of $75 billion. The majority stake in the company is owned by the Norwegian government.

The agreement signed by Irene Rummelhoff, Executive Vice President, Equinor; and Sailesh C. Mehta, Chairman and Managing Director of DFPCL, is one of the largest contracts signed by Equinor with a private sector company in India.

This agreement is for …