IRM Energy Ltd secures 5-Year RLNG supply agreement with Gujarat State Petroleum Corporation Limited

IRM Energy Limited ("IRMEL" or "IRM Energy") is pleased to announce the execution of its second long-term (5-year) Regasified Liquefied Natural Gas (RLNG) supply agreement with Gujarat State Petroleum Corporation Limited ("GSPCL"). Under this agreement, IRM Energy will procure 65,76,000 MMBtu, equivalent to approximately 174.44 MMSCM at 9500 kCal Gross Calorific Value (GCV), ensuring a stable and cost-effective energy supply for its customers.

The agreement signing was attended by Directors of IRM Energy, Shri. Badri Mahapatra and Shri. Amitabha Banerjee, underscoring the Company's commitment to securing reliable energy sources for its clients.

Earlier, on March 25, 2025, IRM Energy signed a similar agreement with Shell Energy India Private Limited. Together, these agreements secure a total supply of 1,88,97,200 MMBtu of RLNG and Domestic Gas over the next five years, reinforcing IRM Energy's commitment to energy security and sustainability.

Strengthening Strategic Growth

This agreement marks a significant milestone in IRM Energy's expansion strategy,enhancing its sourcing portfolio and ensuring uninterrupted, affordable natural gas supply.

Advancing Sustainability and Energy Security

The partnership with GSPCL strengthens IRM Energy's role in delivering cleaner and cost-effective fuel solutions, supporting India's energy security and sustainability goals. The Company remains committed to aiding industries in their transition toward low-carbon alternatives, reducing both environmental impact and operational expenses.

Supporting Industrial and Commercial Growth

Leveraging GSPCL's expertise in the LNG market, IRM Energy is well-positioned to provide a consistent and reliable supply to industrial and commercial customers. This strategic move aligns with its vision of accelerating India's clean energy transition by offering dependable, environmentally friendly fuel options.

"As we continue our mission to provide sustainable and affordable energy, this agreement is a crucial step forward," said Mr. Manoj Kumar Sharma, CEO of IRM Energy. "We are confident that this collaboration will ensure stable gas supplies, driving industrial growth and encouraging the widespread adoption of clean energy solutions."

Commitment to Innovation and Sustainable Growth

IRM Energy remains dedicated to expanding energy access across its authorized geographical areas while maintaining affordability and reliability for industries, businesses, and households. With ongoing investments in infrastructure and advanced energy solutions, the Company is well-equipped to meet rising demand and contribute significantly to India's clean energy transition.

Shares of IRM Energy Limited was last trading in BSE at Rs. 278.35 as compared to the previous close of Rs. 275.95. The total number of shares traded during the day was 18357 in over 980 trades.

The stock hit an intraday high of Rs. 287.00 and intraday low of 277.00. The net turnover during the day was Rs. 5137136.00.

Source : Equity Bulls

Keywords

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