Deepak Fertilizers and its subsidiary enters into long term agreement with Petronet LNG
Deepak Fertilizers & Petrochemicals Corp and Performance Chemiserve (PCL), a step-down subsidiary of the Company has entered into a long-term agreement with Petronet LNG (PLL) for regasification of Liquefied Natural Gas (LNG). Building upon the Long term LNG contract entered with Norwegian giant, Equinor ASA, the Company now ties up the last mile connectivity with a Regassification Contract with Petronet.
The aforesaid agreement will help the Company and PCL in ensuring logistical and commercial arrangement required to receive imported LNG to its manufacturing facilities via the existing national gas grid in Taloja, Mumbai helping deliver its integrated Gas-to-Ammonia-to-Chemicals value chain strategy.
Under the terms of the agreement, Petronet LNG will regasify approximately 25 TBTUs of LNG annually, post an initial ramp-up period, primarily at its Dahej terminal. The regasified gas will be primarily supplied to the Company and PCL's manufacturing facilities units at Taloja for internal consumption.
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