Gujarat-based Torrent Power Ltd (TPL), a leading player in energy production and distribution, has signed a long-term LNG supply agreement with BP Singapore Pte. Ltd., a subsidiary of global energy giant BP p.l.c. (NYSE:BP).
The agreement includes up to 0.41 million metric tons per annum (MMTPA) of liquefied natural gas from 2027 to 2036. TPL intends to fuel its 2,730 MW combined cycle gas power plants across India using this LNG to meet increasing electricity demand and stabilize the grid during peak periods.
An aerial view of offshore rigs with oil storage tanks, reflecting the company’s marine infrastructure.
The deal between TPL and BP p.l.c.’s (NYSE:BP) Singaporean subsidiary also benefits Torrent Gas Ltd (TGL), TPL’s gas distribution subsidiary, by sourcing LNG for residential, industrial, and CNG transport sectors. This ensures a consistent and stable gas supply.
With the government actively promoting gas-based power and India aiming to increase natural gas’ share in its energy mix to 15% by 2030, this deal solidifies Torrent’s standing in the evolving energy landscape.
With an installed capacity of approximately 4,838 MW and significant renewable and storage projects underway, Torrent Power stands ready to support India’s expanding demand for sustainable energy. Meanwhile, BP p.l.c. (NYSE:BP) strengthens its position in an emerging market such as India by playing a significant role in advancing the country’s energy transition goals.
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Disclosure. None.
