Shares of Deepak Fertilisers witnessed a 7% surge today (February 20) following the company’s announcement of a long-term contract for Liquefied Natural Gas (LNG) with Norway-based international energy company Equinor.
In a BSE filing, Deepak Fertilisers stated, “With this tie-up, Deepak Fertilisers strengthens its value chain with an attractive long-term LNG contract to solidify its value chain from Gas to Ammonia to various downstream Fertilisers, Industrial Chemicals, and Mining Chemicals. This end-to-end tie-up shall establish a strong long-term foundation for all of DFPCL’s product segments.”
Under the terms of the contract, Equinor will supply up to 0.65 million tonnes of LNG annually to Deepak Fertilisers over a span of 15 years, starting in 2026. This agreement is expected to benefit Deepak Fertilisers, which is currently focused on securing the re-gasification terminal with the gas pipeline grid connectivity.
At 12:37 pm, the shares of Deepak Fertilisers were trading 7% higher at ₹529.00.
