Trafigura Signs LNG Supply Agreement with Indian Oil Corp

Global commodity trading group Trafigura has recently entered into a significant liquefied natural gas (LNG) supply agreement with the state-owned Indian Oil Corp (IOC). This five-year deal will see Trafigura supplying 2.5 million tonnes of LNG to IOC for use at its regasification terminals throughout India.

Speaking on this collaboration, Sachin Gupta, CEO of Trafigura India, expressed his excitement, stating, “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, Trafigura made headlines with another strategic move by securing a deal with Brazil’s Brava Energia. This partnership granted Trafigura access to 6 million barrels of oil from the Atlanta field located off the coast of Brazil. Brava Energia holds an 80% interest in the field, with the remaining 20% owned by Westlawn.