ADNOC Gas secures multi-year LNG supply agreement with Indian Oil Corporation
ADNOC Gas, an affiliate of Abu Dhabi National Oil Company (ADNOC), has struck a multi-year liquefied natural gas (LNG) supply deal worth billions with Indian Oil Corporation, enhancing energy relations between the United Arab Emirates (UAE) and India reported, offshore-energy.biz.
$7-9 billion deal fortifies the UAE’s position as a reliable LNG supplier to India
This 14-year sales and purchase agreement (SPA) allows ADNOC Gas to export up to 1.2 million tons per annum (mtpa) of LNG to India, converting the previous heads of agreement into a formal contract, with first deliveries slated for 2026.
The LNG will be supplied from ADNOC’s Das Island liquefaction facility, which has a production capacity of up to 6 mtpa and has shipped over 3,500 LNG cargoes globally. The deal, valued between $7 to $9 billion over its 14-year term, underscores ADNOC’s role as a key provider of lower-carbon gas. Fatema Al Nuaimi, ADNOC Gas CEO, emphasized the deal’s significance in bolstering the UAE-India energy partnership. This agreement aligns with India’s goal of making gas 15% of its energy basket by 2030.
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