Abu Dhabi National Oil Company (Adnoc) will ink a 14-year LNG supply agreement this week with Indian Oil Corp. to supply the Indian major with 1.2 mn tons a year, Bloomberg reports, citing an Indian government statement. The supplies are expected to kick off starting 2026.

Not Adnoc’s first India supply agreement to be reported this week: Adnoc was reported earlier this week to beclose to signing a five-year LNG supply agreement to supply 2.5 mn metric tonnes of LNG to BPCL. The agreement could see BPCL receive 40 cargos of LNG, with deliveries starting slow over the first two years and picking up the following three. Adnoc has declined to comment on the partnership. No details on the financials were disclosed.

All eyes on the region: Indian state refiners are reportedly looking at our region’s crude oilmarket for supplies as they seek to replace the heavily sanctioned Russia as their top supplier. Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum were down some 8 to 10 mn barrels of Russian crude for loading in January.

Adnoc’s on an LNG roll: Adnoc Gas inked an AED 1.65 bn three-year LNG supply agreement with Japan’s Jera last month. The company also secured multiple long-term LNG supply agreements in 2024, including a 10-year SPA with Indian state-owned natural gas company Gail, a 15-year SPA with Sefe Marketing & Trading Singapore for 1 mn tonnes of LNG, and other long-term LNG supply agreements to deliver 1.6 mn tonnes per year from the new plant to Shell and Mitsui. It also inked a 15-year agreement with German energy giant Energie Baden-Württemberg to supply it with 0.6 mn tonnes of LNG per year.

Tags: