ADNOC signs $9 billion agreement to supply gas to India for 14 years
The photo has been used for illustrative purposes.
ADNOC Gas announced the signing of an agreement to supply up to 1.2 million metric tonnes per year of LNG for a period of 14 years with the Indian Oil Corporation Limited (IOCL).
The agreement, which ranges from Dhs25.7 billion to Dhs33 billion ($7 to $9 billion), is an important step in the strategic partnership between ADNOC Gas and Indian Oil Limited.
This deal represents another important achievement for ADNOC Gas in its continuous endeavor to expand its global reach, and strengthens its position as a preferred global partner for the export of liquefied natural gas, as well as confirms its solid strategic partnership with the Indian Oil Corporation Limited in the liquefied natural gas market.
Ahmed Al-Abri, CEO of ADNOC Gas, said, “We are pleased to announce the signing of this agreement for the sale of liquefied natural gas, which strengthens our long-term and solid partnership with the Indian Oil Corporation Limited, and we look forward to expanding our cooperation, and we are proud that our exports of liquefied natural gas will support the development of the Indian Oil Corporation and contribute to the comprehensive development process that India is witnessing.”
Under the terms of the agreement, ADNOC Gas will deliver up-to 1.2 mmtpa of LNG to IOCL in India.
The deal serves as a testament to ADNOC Gas’ ability to meet the growing global demand for LNG, a critical fuel in the energy transition.
