Global commodity trading group Trafigura has signed a liquefied natural gas (LNG) supply agreement with the state-owned Indian Oil Corp (IOC).
Under the five-year agreement, Trafigura will supply 2.5 million tonnes of LNG to IOC for use at its regasification terminals across the country.
Sachin Gupta, Chief Executive Officer (CEO) of Trafigura India, commented: “The agreement is a new milestone in Trafigura’s growing commitment to supply energy resources to India. We’re excited to work with Indian Oil Corporation on such a significant LNG supply agreement. Trafigura’s expertise, global reach and extensive supply chain capabilities mean we are well-placed to support India’s increasing LNG requirements.”
Earlier this year, the commodity trading group inked a deal with Brazil’s Brava Energia, enabling it to get 6 million barrels of oil produced at the Atlanta field off the coast of Brazil. Brava Energia operates the field with an 80% interest, while the remaining 20% is held by Westlawn.