ADNOC Gas to export 1.2MTPA of LNG to IOCL in landmark deal

ADNOC Gas, an integrated gas processing company, has signed a 14-year supply agreement with Indian Oil Corporation Ltd (IOCL) for the annual export of up to 1.2 million metric tonnes of liquefied natural gas (LNG) to India.

Valued between $7 billion and $9 billion over its 14-year term, the deal underscores a significant advancement in the partnership between the two energy giants.

This noteworthy deal accentuates another major milestone for ADNOC Gas as it continues to widen its global reach, reinforcing its position as a preferred global LNG export partner and confirming IOCL as its key strategic ally in the LNG market.

ADNOC Gas CEO Ahmed Alebri stated: “We are pleased to announce this long-term LNG sale, further strengthening the long-standing partnership with IOCL. We look forward to expanding our collaboration and take pride in the knowledge that ADNOC Gas’ LNG exports will further support the development of IOCL and contribute to India’s growth story.”

According to the agreement terms, ADNOC Gas will supply up to 1.2 million metric tonnes of LNG annually to IOCL in India. This deal highlights ADNOC Gas’ ability to meet the growing global demand for LNG, a vital fuel in the ongoing energy transition.