The largest integrated and diversified energy firm in India will receive up to 1.2 million tonnes of LNG annually (mtpa) from UAE’s Adnoc Gas, which announced a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation Ltd (IndianOil) on Wednesday. With the first deliveries scheduled for 2026, this agreement transforms the parties’ prior Heads of Agreement into an SPA.
Signed by Adnoc Gas and IndianOil, the deal represents a significant advancement in the two industry heavyweights’ collaboration and is estimated to be worth between $7 billion and $9 billion during its 14-year duration.
This agreement is a testament to the firm and dynamic energy ties between the UAE and India and strengthens our longstanding partnership with IndianOil,” stated Fatema Al Nuaimi, CEO of Adnoc Gas. Adnoc Gas, a trustworthy and conscientious provider of lower-carbon gas, is eager to help India achieve its goal of having 15% of its primary energy basket come from gas by 2030 .Adnoc Gas has inked several LNG agreements in the last two years, and this agreement builds on its objective to increase its customer base. The range of these trades is between 0.4 and 1.2 MTPA. These contracts, which have durations of up to 14 years, strengthen its standing as a top provider of dependable, low-carbon LNG to important Asian development markets like India.
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