The UAE’s ADNOC Group has signed a 15-year LNG supply deal with IndianOil to provide 1 million metric tonnes annually, as reported by the Abu Dhabi Media Office. The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project.
ADNOC is focusing heavily on gas and LNG, viewing them as key to future growth alongside renewable energy and petrochemicals. It currently produces around 6 million tonnes per annum (mtpa) of LNG and aims to expand capacity to 15 mtpa.
The company already has LNG supply deals with Germany’s EnBW, Japan Petroleum Exploration Company, TotalEnergies, and Indian Oil Corporation. In July, global energy firms acquired a 40% stake in the Ruwais LNG project as global gas demand is expected to increase by 50% by 2040.
bp, Mitsui, Shell, and TotalEnergies each hold a 10% stake in Ruwais. ADNOC has also signed multi-year supply deals with Shell and Mitsui.
The Ruwais project will be the first in MENA to run on clean power, with a total capacity of 9.6 mtpa.
ADNOC extended its oil storage agreement with the Indian Strategic Petroleum Reserve during Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed Al Nahyan’s visit to India.
