Adnoc signed a 15-year sales agreement with Indian Oil Corporation for the supply of liquefied natural gas (LNG), according to a statement. Adnoc will supply up to 1 mn tons per annum (mtpa) of LNG from its Ruwais LNG project. This agreement formalizes a previously signed Heads of Agreement in September.

Doubling down: The two signed a 14-year liquefied natural gas (LNG) supply agreement for up to 1.2 mtpa of LNG from Adnoc’s Das Island liquefaction facility earlier this year, with deliveries slated to start in 2026. Indian Oil will be Adnoc’s largest LNG offtaker with a total capacity of 2.2 mpta starting 2029.

Adnoc? India: Adnoc Gas signed a 10-year LNG supply agreement with India’s Hindustan Petroleum Corporation for 0.5 mpta of LNG earlier this month, and another 10-year SPA with Indian state-owned natural gas company Gail for 0.52 mpta of LNG last year.

REMEMBER- Adnoc broke ground on its LNG project in AlRuwaisIndustrial City in Al Dhafra region in November. The oil giant plans to start exporting from the Ruwais site in 2028, with a target of 4.8 mn tons per year. The project is expected to more than double Adnoc’s LNG production capacity in the UAE to 15 mn tons per year. Adnoc Gas is set to acquire a 60% stake in the project from its parent group Adnoc in 2H 2028 for an estimated USD 5 bn.

Ramping up LNG agreements: The company has been converting Heads of Agreements into sales agreements over the past year, with similar ones agreed with Germany's SEFE, German energy infrastructure firm EnBW, Malaysia’s state-owned oil and gas firm Petronas, as well as a Japan’s Jera and Osaka Gas. Meanwhile, its potential USD 18.7 bn takeover offer for Australian gas player Santos could add 7.5 mn tonsof annual LNG capacity to its roster.

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