IOC

IOC Signs $1.4 Billion LNG Deal to Meet India's Energy Boom Big LNG Deal with Trafigura Indian Oil Corp (IOC) just signed a massive $1.3–1.4 billion deal with trader Trafigura to import 2.5 million tonnes of LNG starting mid-2025. That's 27 shipments to meet India’s rising gas demand, which is growing in double digits! Why So Much LNG? Basically, gas is now being used not just in industries, but also for cooking at homes, running vehicles (CNG), and even powering trucks. It’s a cleaner option while we slowly move away from coal and oil. More Players Join In HPCL also signed a deal with ADNOC (UAE) to receive LNG at its new Chhara terminal. It can handle 5 million tonnes a year. Meanwhile, GAIL made similar long-term deals with Qatar, Vitol, and ADNOC to secure future energy needs. India’s Big Gas Goal The goal is to take gas share in India's energy mix from 6-7% to 15% by 2030. All these deals are steps in that direction.