Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) has entered into a novation agreement with Equinor ASA and its Singapore-based subsidiary Deepak Globalchem PTE. LTD (DGPL) for long-term LNG supplies. The deal ensures up to 0.65 million tonnes annually for 15 years starting 2026.
Deepak Fertilisers has strategically shifted its LNG supply contract to its wholly owned subsidiary DGPL, strengthening its global energy footprint. The agreement, originally signed in 2024 with Equinor, now positions DGPL as the buyer while DFPCL provides corporate guarantee support.
Agreement Overview
The novation agreement, executed on March 25, 2026, transfers all rights and obligations under the LNG supply contract to DGPL. This move allows DFPCL to streamline operations while ensuring continuity of supply on identical commercial terms.
Strategic Significance
By channeling LNG procurement through DGPL, DFPCL enhances its international presence and secures long-term energy stability. The arrangement underscores the company’s commitment to sustainable growth and reliable raw material sourcing for its petrochemical operations.
Key Highlights
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Annual LNG supply up to 0.65 million tonnes
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15-year tenure commencing 2026
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Agreement novated from DFPCL to DGPL
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Equinor ASA remains the supplier
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Corporate guarantee support by DFPCL under agreed conditions
Sources: Company filing with BSE and NSE