Abu Dhabi National Oil Company (Adnoc) inked a 15-year LNG heads of agreement to supply 1 mn metric tonnes of LNG annually to state-owned IndianOil, according to a statement. The LNG will be sourced mainly from Adnoc’s Ruwais LNG project in Abu Dhabi, which is expected to go live in 2028 and more than double Adnoc’s LNG production capacity to 15 mn metric tons per annum from 6 mn tons.

The latest in a flurry of agreements: Adnoc agreed to supply Japan’s Osaka Gas with 0.8 mn metric tons of LNG annually in August, at which point it said it had secured off-take agreements for 70% of Ruwais LNG’s capacity. The oil giant also inked an agreement to supply 1 mn tons per year to Shell, a supply agreement for 0.6 mn tons to Mitsui, and other agreements with China’s ENN, SEFE Marketing & Trading Singapore, and Germany’s Energie Baden-Württemberg.

REMEMBER- Adnoc completed its sale of 40% worth of stakes in the USD 7 bn Ruwais project to UK oil and gas giant Shell, French TotalEnergies, BP, and Japan’s Mitsui in July, with each firm acquiring 10%. The oil giant holds the remaining 60% stake in the project. An additional 5% stake could also be sold to a different partner, Reuters reported at the time, without providing further details.

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