ADNOC Gas inks 10-year, $3-billion LNG supply agreement with Hindustan Petroleum

ADNOC Gas has signed a long-term liquefied natural gas sales and purchase agreement with Hindustan Petroleum Corporation Limited, strengthening energy ties between the UAE and India as Asian LNG demand continues to grow.

The 10-year agreement is valued at approximately $2.5 billion to $3 billion and covers the supply of 0.5 million tonnes per year of LNG. Deliveries will be sourced from ADNOC Gas’ Das Island liquefaction facility, one of the world’s longest-operating LNG plants.

The contract converts a previously signed heads of agreement into a binding supply deal and adds to a series of long-term LNG contracts ADNOC Gas has secured with Indian buyers in recent years. By 2029, ADNOC Gas expects to operate 15.6 MMtpa of LNG capacity, with more than 3 MMtpa contracted to Indian companies.

India has emerged as the UAE’s largest LNG customer as it seeks to increase the role of natural gas in its energy mix. For ADNOC Gas, the agreement supports its strategy of expanding LNG sales into fast-growing Asian markets while underpinning long-term demand for its gas portfolio.