Indian Oil signs LNG deal with Trafigura

Trafigura will supply 2.5 million tonnes of liquefied natural gas, equivalent to about 27 cargoes, under the deal

- Reuters

Indian Oil Corp. has signed a five-year import deal with trader Trafigura to buy 2.5 million tonnes (mt) of liquefied natural gas (LNG) in a $1.3-1.4 billion deal, chairman A.S. Sahney said on Wednesday.

Supplies under the deal would begin from the second half of this year, he said, adding that the price of the LNG is linked to the US Henry Hub benchmark.

Trafigura will supply 2.5 mt of LNG, equivalent to about 27 cargoes under the deal, he said.