01-May-2025
Corporate News
 
Indian Oil agrees to five-year LNG deal with Trafigura, sources say
30-Apr-2025

Indian Oil Corp , the country's top refiner, has agreed to a five-year liquefied natural gas (LNG) import deal with trader Trafigura, with prices linked to the U.S. Henry Hub benchmark, three trade sources said on Wednesday. Trafigura will supply three to four LNG cargoes this year and six cargoes annually from next year, said one of the sources. No immediate comment was available from Trafigura and Indian Oil. India is looking to raise its imports of U.S. energy to fix its trade balance with the world's top economy and traders are looking to reroute some of the LNG meant for China into India, one of the sources said.

News Source:- https://economictimes.indiatimes.com/industry/energy/oil-gas/indian-oil-agrees-to-five-year-lng-deal-with-trafigura-sources-say/articleshow/120753672.cms