February 13, 2025 8:53 AM

ADNOC Gas signs 14-year LNG Supply Agreement with Indian Oil Corporation

ADNOC Gas has finalized a major long-term agreement to supply liquefied natural gas to Indian Oil Corporation Ltd, marking a significant expansion of energy cooperation between the UAE and India. The 14-year sales and purchase agreement (SPA), valued between $7 billion and $9 billion, will provide IndianOil with up to 1.2 million tonnes of LNG annually starting in 2026. This agreement converts the previous Heads of Agreement between the parties into an SPA, with the first deliveries set to begi...