Wedoany.com Report-Aug. 12, Trafigura, a global commodity trading group, has signed a significant liquefied natural gas (LNG) supply agreement with the state-owned Indian Oil Corporation (IOC). This five-year deal will see Trafigura supply 2.5 million tonnes of LNG to IOC, which will use the gas at its regasification terminals across India.

LNG supply agreement signing ceremony

Sachin Gupta, 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.”

This agreement marks a key step in Trafigura's ongoing expansion of its energy supply operations to India, which is seeing rising demand for natural gas. Trafigura’s global reach and experience in managing large-scale energy deals position the company well to support the country's growing energy needs.

In addition to the LNG deal, Trafigura earlier this year reached an agreement with Brazil’s Brava Energia. This deal enables Trafigura to acquire 6 million barrels of oil produced at the Atlanta field, located off the coast of Brazil. Brava Energia, which operates the field, holds an 80% interest, with Westlawn holding the remaining 20%.

The partnership with IOC underscores Trafigura's increasing focus on supplying energy resources, reflecting its broader strategy to diversify its energy portfolio and cater to the needs of major energy consumers globally.