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12° Nicosia,
25 April, 2024
 
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Norwegian LNG fueling India's energy future starting 2026

Deepak Fertilisers and Equinor team up for 15-year LNG partnership

Andreas Karamitas

In a strategic move echoing India's green ambitions, Deepak Fertilisers has joined forces with Norwegian giant Equinor to secure a 15-year supply of liquefied natural gas (LNG). The accord, a testament to India's drive for sustainable alternatives and carbon reduction, will see Equinor sourcing LNG from the picturesque Hammerfest, Norway. Brace for the first LNG delivery by 2026, with an annual commitment of approximately 0.65 million tonnes.

Deepak Fertilisers, a powerhouse in fertilisers and petrochemicals, isn't just securing its energy needs; it's crafting a strategic narrative to diminish its energy footprint. According to a joint proclamation, the spotlight is on ammonia production, earmarked predominantly for the burgeoning Indian market.

This pact not only seals the deal for Deepak and Equinor but also unveils Equinor's grand entrance into the pulsating heart of the Indian energy market.

Unveiling the tapestry of India's energy landscape
India, a burgeoning economic powerhouse with a staggering 1.36 billion-strong population, grapples with surging energy demands. Despite recent energy market reforms and a commendable surge in renewable energy infusion, India remains tethered to coal, as per the latest statistical revelations. Yet, in the face of urbanization and a burgeoning construction sector, the Indian government is unwavering in its commitment to fortify the nation's institutional framework. The goal? Attracting investments that can satiate the voracious energy appetite of its people.

Enter the stage of electricity demand, casting a spell of challenge upon the grid. Fear not, for the Indian government is orchestrating a symphony to fortify the nation's energy security. With the creation of a unified national energy system and substantial investments in clean energy, the melody is evolving. India, the protagonist, is now waltzing towards the integration of higher percentages of variable renewable energy sources into its harmonious energy mix.

From 2016 to 2018, the crescendo of solar energy and wind turbines doubled, dancing from 4% to 8% in the electricity generation ensemble. A magical stroke of energy efficiency ensures an encore, dodging an additional 15% of energy demand and 300 MtCO2 emissions between 2000 and 2018.

So, as Deepak and Equinor take center stage, they're not just striking deals, they're contributing verses to the dynamic saga of India's energy evolution. The story unfolds, and the world awaits the next enchanting chapter.

[This article was translated from its Greek original]

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Cyprus  |  energy  |  LNG  |  deal  |  India  |  Norway

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