ADNOC Gas plc and its subsidiaries have announced the signing of a 14-year sales and purchase agreement with Indian Oil Corporation Ltd for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG). The agreement marks a significant milestone in the collaboration between the two companies, reinforcing their long-standing energy partnership.
The SPA, which builds upon a previous Heads of Agreement between the parties, is valued between $7 billion and $9 billion over its term. First deliveries under the agreement are scheduled to commence in 2026.
According to ADNOC Gas, the agreement underscores the strong and dynamic energy ties between the UAE and India. Fatema Al Nuaimi, CEO of ADNOC Gas, highlighted the significance of the deal, stating that it strengthens the company’s partnership with IndianOil while supporting India’s ambition to increase gas to 15 percent of its primary energy mix by 2030.
The agreement forms part of ADNOC Gas’ broader strategy to expand its customer base, following several LNG agreements signed over the past two years. These deals, ranging from 0.4 MTPA to 1.2 MTPA and spanning periods of up to 14 years, reinforce the company’s position as a key supplier of reliable, lower-carbon LNG to fast-growing markets in Asia, including India.
LNG deliveries under the agreement will be sourced from ADNOC Gas’ Das Island liquefaction facility, which has a production capacity of up to 6 mtpa. As the world’s third longest-operating LNG plant, Das Island has shipped more than 3,500 LNG cargoes globally since commencing operations.
For more information visit www.adnocgas.ae
