ADNOC Gas Signs $3 Billion LNG Supply Agreement with HPCL of India
ADNOC Gas has signed a sales and purchase agreement with India's Hindustan Petroleum Corporation Limited (HPCL) for the supply of 0.5 million tonnes per annum of liquefied natural gas (LNG) over ten years, valued between $2.5 billion and $3 billion. This agreement, finalized during UAE President Sheikh Mohamed bin Zayed Al Nahyan's visit to India, reinforces the UAE-India energy partnership, making India the UAE's largest LNG customer. By 2029, ADNOC Gas will operate a total of 15.6 mtpa of LNG, with 3.2 mtpa contracted to Indian companies.
Theia Market Signal Identification - AI Assisted
ADNOC Gas has signed a sales and purchase agreement valued between $2.5 billion and $3 billion with India's Hindustan Petroleum Corporation Limited (HPCL) for the supply of 0.5 million tonnes per annum (mtpa) of liquefied natural gas (LNG) over ten years. This agreement was finalized during UAE President Sheikh Mohamed bin Zayed Al Nahyan's visit to India, where he met Indian Prime Minister Narendra Modi.
The LNG will be sourced from ADNOC Gas' Das Island liquefaction facility, which is one of the world's longest-operating LNG plants. This contract enhances the total value of ADNOC Gas contracts to over $20 billion and reinforces the UAE-India energy partnership, as India becomes the UAE's largest LNG customer. By 2029, ADNOC Gas will operate a total of 15.6 mtpa of LNG, with 3.2 mtpa contracted to Indian companies, including HPCL.
Comments