Today's Edition
ABU DHABI (ALETIHAD)
ADNOC Gas has signed a long-term liquefied natural gas (LNG) supply agreement valued at between $2.5 billion and $3 billion with India’s Hindustan Petroleum Corporation Limited (HPCL), reinforcing the growing energy partnership between the UAE and India.
In a statement on Monday, ADNOC Gas said the 10-year sales and purchase agreement covers the supply of 0.5 million tonnes per annum (mtpa) of LNG and converts a previously signed Heads of Agreement between the two companies into a binding long-term contract.
The agreement was announced during the state visit of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan to India, where he met Indian Prime Minister Narendra Modi. The contract was exchanged by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, and Vikas Kaushal, Chairman and Managing Director of HPCL.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said the deal reflects the deepening energy ties between the two countries. “We are pleased to sign this long-term LNG supply agreement with Hindustan Petroleum Corporation, which reflects the strong and growing energy partnership between the UAE and India,” she said. “This agreement underscores ADNOC Gas’ commitment to delivering reliable LNG to meet global demand, while supporting India’s ambition to increase natural gas to 15% of its energy mix by 2030.”
According to ADNOC Gas, the agreement strengthens its position as a trusted supplier to Asia’s fast-growing energy markets and further deepens its relationship with India, which is now the UAE’s largest LNG customer and a key pillar of the company’s growth strategy.
The company said the HPCL contract brings the total value of contracts supported and operated by ADNOC Gas to more than $20 billion. By 2029, ADNOC Gas expects to be the operator of 15.6 mtpa of LNG capacity, of which 3.2 mtpa will be contracted to Indian energy companies, including HPCL.
Supplies under the agreement will be sourced from ADNOC Gas’ Das Island liquefaction facility, which has a production capacity of up to 6 mtpa and is among the world’s longest-operating LNG plants. Since beginning operations, the facility has delivered more than 3,500 LNG cargoes worldwide, ADNOC Gas said.
The company added that the agreement aligns with its broader strategy to expand its customer base in India and across Asia. Over the past three years, ADNOC Gas has secured several long-term LNG contracts ranging from 0.4 mtpa to 1.2 mtpa, with durations of up to 14 years, reinforcing its role as a supplier of reliable, lower-carbon LNG to regional and global markets.
