Deepak Fertilisers gains on inking Rs 1,200-cr LNG regasification deal with Petronet LNG

Deepak Fertilisers & Petrochemicals Corporation rose 2.94% to Rs 1,613 after the company entered into a long-term agreement with Petronet LNG (PLL) for the regasification of Liquefied Natural Gas (LNG).

The contract, valued at Rs 1,200 crore with a potential 20% escalation over five years, entails the regasification of approximately 25 TBTUs of LNG annually, primarily at PLLs Dahej terminal, following an initial ramp-up phase. The regasified gas will be used at DFPCLs manufacturing facilities in Taloja for internal consumption.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) is in the business of fertlisers, agri services, bulk chemicals, mining chemicals and real estate.

Petronet LNG was formed to develop, design, construct, own, and operate liquefied natural gas (LNG) import and regasification terminals in India.

Shares of Petronet LNG rose 1.53% to Rs 308.35 on the BSE.

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