IRM Energy Ltd secures 5-Year RLNG Supply Contract with Shell Energy India Pvt Ltd

IRM Energy is proud to announce the successful signing of a long-term (5-year) contract ("Agreement") with Shell for the supply of Regasified Liquefied Natural Gas (RLNG). The total quantity to be purchased under the Agreement will be 1,23,21,200 MMBtu equivalent to approximate 326.84 mmscm @ 9500 k/cal Gross Calorific Value (GCV). This Agreement marks a significant milestone in IRM Energy's strategic growth, ensuring stable and cost-effective energy supplies for its customers.

The Agreement was formally signed in the presence of Shri. Badri Mahapatra - Director of IRM Energy, underscoring the company's commitment to securing reliable energy sources for Industrial and Commercial customers. This partnership with Shell, a global leader in LNG supply, is expected to strengthen IRM Energy's ability to provide cleaner and more affordable fuel solutions, contributing to India's energy security and sustainability goals.

Enhancing Industrial and Commercial Sector Growth

The Agreement is set to play a pivotal role in ensuring consistent RLNG availability, supporting the Industrial and Commercial segment. By leveraging Shell's global expertise in LNG, IRM Energy aims to enhance its service capabilities, helping businesses transition towards greener energy alternatives and reducing their carbon footprint.

"This agreement is a testament to our commitment to providing sustainable and affordable energy solutions to our valued customers. With this partnership, we are confident in ensuring stable gas supplies that will support economic development and clean energy adoption," said Mr. Manoj Kumar Sharma, CEO - IRM Energy, at the signing of the contract.

A Step Forward in Energy Innovation and Sustainability

IRM Energy has been at the forefront of expanding energy accessibility through strategic alliances and innovation. This Agreement aligns with the Company's mission to contribute to India's clean energy transition while ensuring energy affordability for industries and consumers alike. The Company remains committed to integrating advanced energy solutions and enhancing its infrastructure to cater to the growing demand for natural gas.

Shares of IRM Energy Limited was last trading in BSE at Rs. 278.55 as compared to the previous close of Rs. 287.00. The total number of shares traded during the day was 17276 in over 1108 trades.

The stock hit an intraday high of Rs. 294.80 and intraday low of 275.55. The net turnover during the day was Rs. 4832485.00.

Source : Equity Bulls

Keywords

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