ADNOC Gas has announced a 14-year supply agreement with Indian Oil Corporation Ltd (IOCL) for the export of up to 1.2m metric tonnes per annum (mmtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company.
The agreement, valued in the range of $7bn to $9bn (AED25.7bn to AED33bn) over its 14-year term, signifies a major step forward in the partnership between the two industry leaders.
The landmark deal marks another significant milestone for ADNOC Gas as it expands its global reach, reinforcing its position as a global LNG export partner of choice, and reaffirming IOCL as its key strategic partner in the LNG market.
ADNOC Gas-India LNG deal
Ahmed Alebri, CEO of ADNOC Gas, said: “We are pleased to announce this long-term LNG sale, further strengthening the long-standing partnership with IOCL.
“We look forward to expanding our collaboration and take pride in the knowledge that ADNOC Gas’ LNG exports will further support the development of IOCL and contribute to India’s growth story.”
Under the terms of the agreement, ADNOC’s gas business will deliver up-to 1.2mmtpa of LNG to IOCL in India.
The deal serves as a testament to the energy giants’ ability to meet the growing global demand for LNG, a critical fuel in the energy transition.
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