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ADNOC, Indian Oil Corporation ink long-term LNG supply deal
(MENAFN) ADNOC announced on Tuesday that it has finalized the key terms of a significant long-term agreement with Indian Oil Corporation Limited (IOC) for the supply of 1 million metric tons of liquefied natural gas (LNG) per year. This agreement marks a notable expansion of ADNOC's global LNG operations and underscores its strategic partnership with India. The LNG will be sourced primarily from ADNOC’s Ruwais LNG project, which is currently under development in Ruwais Industrial City, Abu Dhabi, and is slated to commence commercial operations in 2028.
The 15-year agreement stipulates that the LNG will be transported to IOC's ports in India, highlighting ADNOC’s commitment to delivering safe, low-carbon energy. Rashed Khalfan Al Mazrouei, Senior Vice President of Marketing at ADNOC, emphasized the significance of India as a key strategic partner for the UAE. He noted that this agreement not only strengthens ADNOC's global LNG footprint but also aligns with the company’s broader strategy to address the growing demand for LNG and support the global transition to cleaner energy sources. The Ruwais LNG project is central to this strategy, representing a crucial element of ADNOC’s plans to expand its role in the international energy market.
The 15-year agreement stipulates that the LNG will be transported to IOC's ports in India, highlighting ADNOC’s commitment to delivering safe, low-carbon energy. Rashed Khalfan Al Mazrouei, Senior Vice President of Marketing at ADNOC, emphasized the significance of India as a key strategic partner for the UAE. He noted that this agreement not only strengthens ADNOC's global LNG footprint but also aligns with the company’s broader strategy to address the growing demand for LNG and support the global transition to cleaner energy sources. The Ruwais LNG project is central to this strategy, representing a crucial element of ADNOC’s plans to expand its role in the international energy market.
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