Abu Dhabi - Mubasher: ADNOC Gas penned a sales and purchase agreement valued at between $2.50 billion and $3 billion with Hindustan Petroleum Corporation Limited (HPCL), according to a press release.
This 10-year deal covers the export of 500,000 tons per annum (mtpa) of liquefied natural gas (LNG).
It contributes to fostering the strategic partnership between the UAE and India, while reinforcing the ADX-listed group’s role as a reliable and trusted supplier of LNG to Asia’s fast-growing markets.
The total value of contracts supported and operated by ADNOC Gas crossed $20 billion.
By 2029, ADNOC Gas will be the operator for 15.6 MTPA of LNG, of which 3.2 MTPA is contracted to Indian energy companies including HPCL.
The recently signed agreement will be supplied from ADNOC Gas’ Das Island liquefaction facility, which has a production capacity of up to 6 mtpa and ranks among the world’s longest-operating LNG plants.
The Hindustan Petroleum agreement aligns with the UAE-based group’s strategy to broaden its customer base and expand its presence in India and in key growth markets across Asia.
Fatema Al Nuaimi, CEO of ADNOC Gas, said: “This agreement underscores ADNOC Gas’ commitment to delivering reliable LNG to meet global demand, while supporting India’s ambition to increase natural gas to 15% of its energy mix by 2030.”
In November, ADNOC Gas and EMSTEEL Building Materials signed a $4 billion supply deal to power the UAE’s industrial growth and economic development.
