ADNOC Gas, a subsidiary of the Abu Dhabi National Oil Company, has finalized a significant long-term agreement. The company will supply Liquefied Natural Gas (LNG) to India’s Hindustan Petroleum Corporation Limited. This sales and purchase agreement spans a decade. Its value reaches up to $3 billion.
Agreement Details
Under the terms, ADNOC Gas commits to providing 0.5 million tonnes of LNG annually (MMtpa). This volume ensures a steady flow of natural gas for Hindustan Petroleum. The supply will last for ten years.
Supply Origin
ADNOC Gas will source the LNG directly from its Das Island facility. This strategic location facilitates efficient maritime transport to India.
Strengthening Bilateral Ties
This agreement significantly deepens the existing energy partnership between the United Arab Emirates and India. It highlights growing collaboration in the global energy sector. Both countries prioritize secure and diversified energy supplies for their economies. This deal underscores a shared vision for mutual economic growth and energy security.
India, a rapidly developing nation, faces substantial energy demands. This long-term LNG supply helps meet those increasing needs. Consequently, the UAE reinforces its position as a reliable global energy provider.
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