ADNOC has signed a 15-year sales and purchase agreement under which it will supply 1 million tonnes per year (tpy) of LNG to IndianOil, ADNOC announced on Wednesday.
With the deal, IndianOil is on track to become ADNOC’s largest LNG customer by 2029. The company will account for a total offtake of 2.2 million tpy, of which 1.2 million tpy from Das Island under a contract signed in February 2025 with ADNOC Gas and 1 million tpy from Ruwais under this latest deal.
The agreement converts a previous heads of agreement between the companies and falls within the Comprehensive Economic Partnership Agreement signed by the UAE and India in 2022 to further bilateral trade and energy co-operation.
“This long-term agreement with IndianOil underscores the robust energy relations between the UAE and India. Through our world-class Ruwais LNG project, ADNOC will continue to provide more lower-carbon gas to meet growing global demand,” said Rashid Khalfan Al Mazrouei, ADNOC’s senior vice-president of marketing.
Ruwais LNG consists of two natural gas liquefaction trains with a nameplate production capacity of 4.8 million tpy each. To date, ADNOC has committed more than 8 million tpy of Ruwais’ production to international buyers under long-term supply agreements.
In 2028, ADNOC Gas is expected to acquire ADNOC’s 60% stake in Ruwais LNG at cost, estimated at around USD 5 billion. ADNOC Gas is currently managing the design and construction of the facility and participating in the marketing of LNG volumes.
Source: theenergyyear.com