India has reiterated that energy security remains a central priority as global markets continue to face uncertainty due to the ongoing conflict in West Asia.

The Ministry of External Affairs emphasised that the country is actively diversifying its energy sources and is open to cooperation with international partners, including Norway.

MEA spokesperson Randhir Jaiswal stated during the weekly press briefing that India’s policy is to strengthen energy security through diversified imports, welcoming support from different markets worldwide.

The remarks were made in the context of the first LNG cargo delivered to Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) under a long-term agreement with Equinor, the 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 significant step towards strengthening reliable LNG supply chains for Indian industry.

This development is closely linked to broader trade cooperation under the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), which was ratified last year. The agreement has paved the way for deeper collaboration in energy and trade, reinforcing India’s strategy of securing stable supplies from multiple partners.

Equinor and DFPCL had earlier signed a 15-year agreement in February 2024 for LNG supplies, with deliveries commencing in 2026. Equinor’s LNG portfolio is primarily built on production from its Hammerfest facility in Norway, supplemented by additional supplies sourced largely from the United States. This diversified portfolio ensures a steady flow of LNG to India, reducing dependence on any single source.

DFPCL will utilise the imported LNG primarily as feedstock for ammonia production at its newly commissioned fertiliser and petrochemical plant. The agreement provides for an annual supply of approximately 0.65 million tons, equivalent to about 9 TWh, over the 15-year period. This long-term arrangement is expected to enhance India’s industrial capacity while contributing to its broader energy security framework.

The partnership with Norway also reflects India’s wider strategy of engaging with multiple countries to secure reliable energy supplies amid geopolitical tensions.

By diversifying imports and strengthening long-term agreements, India aims to safeguard its energy needs for its growing population and industrial sector, while reinforcing resilience against global market volatility.

ANI