Adnoc has finalised a 15-year agreement to supply liquefied natural gas (LNG) to Indian Oil Corporation (IndianOil), one of India’s leading energy companies.
Under the deal, the state-owned company will provide 1 million tonnes per annum (mtpa) of LNG from its lower-carbon Ruwais project, according to WAM news agency. Financial details of the transaction were not disclosed.
The arrangement allows LNG cargoes to be delivered to any port in India, strengthening the country’s energy security and meeting its increasing demand for cleaner fuels.
Listed on the Bombay Stock Exchange, IndianOil is expected to become Adnoc’s largest LNG customer by 2029, with total purchases reaching 2.2 mtpa. This includes 1.2 mtpa from Adnoc’s Das Island operations in addition to the 1 mtpa from the Ruwais project.
The Ruwais LNG facility, currently under construction in Abu Dhabi’s Al Ruwais Industrial City, is scheduled to begin commercial operations in 2028.
So far, more than 8 mtpa of the project’s planned 9.6 mtpa production capacity has been committed to long-term contracts with global buyers.
The UAE-India Comprehensive Economic Partnership Agreement (CEPA), signed in 2022, has been a key driver of this collaboration, facilitating closer trade and energy ties between the two nations.
