Abu Dhabi – Mubasher: ADNOC Gas has signed a 10-year agreement with GAIL India Limited, according to a press release.
Under the deal, the ADX-listed firm will supply 0.5 million metric tons per annum (mmtpa) of liquified natural gas (LNG) to the India-based gas firm.
This partnership follows key international LNG sales agreements, including those with Japan Petroleum Exploration Company Limited, TotalEnergies Gas and Power, Indian Oil Corporation (IOCL), and PetroChina International (PCI).
Ahmed Mohamed Alebri, CEO of ADNOC Gas, commented: “This long-term LNG supply agreement with GAIL India marks a significant step forward in our commitment to continue providing reliable and sustainable energy solutions to our partners and customers around the world.”
“India continues to be a key market for ADNOC Gas, and this latest supply agreement underscores our ongoing dedication to fostering long-term partnerships that promote responsible energy consumption,” Alebri underlined.
In 2023, ADNOC Gas inked LNG agreements valued between $9.40 billion (AED 34.50 billion) and $12 billion (AED 44 billion). This is in addition to investing domestically to meet both local and international demand for natural gas.
During the January-September 2023 period, the UAE company logged net income valued at $3.37 million, down 9% year-on-year (YoY) from $3.71 billion.
