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- ADNOC Gas and Indian Oil Corporation signed a 14-year LNG Supply Agreement.
- ADNOC Gas has finalized a long-term agreement with Indian Oil Corporation Ltd to supply liquefied natural gas.
- The 14-year sales and purchase agreement (SPA) is valued between $7 billion and $9 billion.
- ADNOC will provide 1.2 million tonnes of LNG annually from 2026 to Indian Oil Corporation.
- This agreement has converted the previous ‘Heads of Agreement’ between the parties into a SPA.
- It will help India in achieving the ambitious goal of increasing gas usage to 15% of its primary energy mix by 2030.
- The LNG will be sourced from ADNOC Gas’s Das Island facility. It is one of the world’s longest-operating LNG plants.
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