Adnoc to provide LNG from Ruwais to IndianOil

Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed’s visit to India reaped several agreements on the energy front, as well as on food and agriculture, according to a statement from the Abu Dhabi Media Office.

#1- Adnoc inked a 15-year LNG heads of agreement to supply 1 mn metric tonnes of liquefied natural gas annually to state-owned IndianOil. The LNG will be sourced mainly from Adnoc’s Ruwais LNG project in Abu Dhabi, which is set to go live in 2028.

REMEMBER- 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, including 1 mn tons per year to Shell and 0.6 mn tons to Mitsui. The oil giant also struck supply agreements with China's ENN, SEFE Marketing & Trading Singapore, and Germany’s Energie Baden-Württemberg.

#2-The Emirates Nuclear Energy Corporation and India’s Nuclear Power Corporation agreed to exchange expertise in nuclear energy development.

#3- Adnoc also agreed to extend an oil storage agreement with Indian Strategic Petroleum Reserve, according to the statement.

#4- Abu Dhabi wealth fund ADQ and the government of Gujarat also signed an MoU to establish a “major food and agriculture park” in India. The financial terms of the agreement and the timeline of the park’s construction were not disclosed.