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IOC signs $1.4B LNG import deal with Trafigura, aiming to boost India's energy supply.
Indian Oil Corporation (IOC) has signed a $1.4 billion five-year deal with Trafigura to import 2.5 million tonnes of liquefied natural gas (LNG), starting this year.
The price will be based on U.S. Henry Hub benchmarks.
India, the world's fourth-largest LNG importer, is looking to boost its energy supply for its growing economy.
Additionally, IOC plans to triple its sales and invest in 4.3 gigawatts of renewable energy capacity through its subsidiary, Terra Clean.
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