Joint Venture25 Mar 2026, 08:34 pm
Deepak Fertilisers & Petrochemicals Corporation Ltd Novates LNG Supply Agreement with Equinor to Subsidiary
AI Summary
Deepak Fertilisers & Petrochemicals Corporation Ltd has entered into a Novation Agreement on 25th March, 2026, with Equinor ASA and its subsidiary, Deepak Globalchem PTE. LTD, to novate a long-term supply agreement for Liquefied Natural Gas (LNG). The novated agreement provides for annual supplies of LNG up to 0.65 million tonnes for a period of 15 years, starting from 2026, on the same commercial terms as the original agreement.
Key Highlights
- Deepak Fertilisers & Petrochemicals Corporation Ltd has novated its long-term supply agreement for LNG with Equinor ASA to its subsidiary, Deepak Globalchem PTE. LTD.
- The novated agreement provides for annual LNG supplies up to 0.65 million tonnes for a period of 15 years, starting from 2026.
- Deepak Globalchem PTE. LTD. assumes all rights and obligations under the original supply agreement.
- Deepak Fertilisers & Petrochemicals Corporation Ltd has provided corporate guarantee support to Deepak Globalchem PTE. LTD. for the novated agreement.
- Deepak Globalchem PTE. LTD. is a wholly-owned subsidiary of Deepak Fertilisers & Petrochemicals Corporation Ltd.