‘Energy Security Vital’: MEA Thanks Norway For Gas Shipment

Energy security remains a key priority for India amid global concern over energy supply due to conflict in West Asia, the Ministry of External Affairs (MEA) on Friday said, adding that the country is actively diversifying its energy sources and welcoming cooperation from global partners, including Norway.

Responding to a query on gas shipments expected from Norway, MEA spokesperson Randhir Jaiswal said India’s approach is focused on strengthening energy security through diversified imports.

“Energy security is very important for us. We are trying to diversify our sources from across the world. That is our policy right now, and we welcome whatever support we can get from various markets across the world,” Jaiswal said during the weekly press briefing.

The remarks come in the backdrop of the first LNG cargo delivered to Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) under a long-term agreement with Equinor, a Norwegian multinational energy company.

The shipment, sourced from Norway’s Hammerfest LNG facility, marks the beginning of a long-term energy partnership and is seen as a step towards strengthening reliable LNG supply chains for the Indian industry.

This development aligns with broader trade cooperation under the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), following its ratification last year.

Earlier in February 2024, Equinor and the Indian fertiliser and petrochemical company DFPCL signed a 15-year agreement for supplies of LNG with deliveries starting in 2026.

Equinor’s LNG portfolio is primarily built on output from its Hammerfest LNG facility in Norway, along with additional supplies sourced largely from the United States.

This portfolio serves as the main source of supply for DFPCL, which will utilise the gas primarily as a feedstock for ammonia production at its newly commissioned fertiliser and petrochemical plant.

The agreement provides for an annual supply of approximately 0.65 million tonnes (about 9 TWh) of LNG over a 15-year period. (ANI)