AZB & Partners acted for Arcelor Mittal Nippon Steal, India (“AMNSI”) on its spot LNG Master Sale and Purchase Agreement with Vitol Asia, Singapore, for supplying LNG to AMNSI’s integrated steel plant at Hazira, Gujarat. The transaction was particularly important for AMNSI as it has set up a continuous galvanising line for steel production forming part of an ongoing INR 60,000 crore investment plan.
This transaction also underscores the importance of the burgeoning LNG sector in India as the country ambitions to elevate the share of natural gas in its energy mix from 6% to 15%.
Our deal team comprised our Senior Partner Anuja Tiwari, Partner Mallika Anand and Senior Associate Shikhar Thukral.
https://www.business-standard.com/industry/news/india-to-boost-lng-import-capacity-by-27-by-2030-add-two-new-plants-125090200418_1.html