2.5 MT LNG Deal: IOC and Trafigura Forge Long-Term Partnership

State-owned Indian Oil Corporation (IOC), India's largest oil marketing company, has signed a major long-term agreement with global commodity trader Trafigura for the supply of 2.5 million tonnes (mt) of liquefied natural gas (LNG).

Under the terms of the deal, Trafigura will supply the LNG to IOC via 27 cargoes over a five-year period starting in the second half of 2025, ensuring a consistent and dependable fuel supply for the company.

IOC Chairman AS Sahney noted that the pricing will be linked to the US Henry Hub benchmark, a key reference point for natural gas prices in North America. The agreement highlights IOC’s commitment to strengthening its energy security and meeting the rising demand for natural gas in India through strategic international partnerships.

News by Rahul Yelligetti.