Abu Dhabi National Oil Co PJSC (ADNOC) has signed agreements with state-owned Indian Strategic Petroleum Reserves Ltd (ISPRL) and Indian Oil Corp Ltd (IOCL) to support Indian energy security and pursue energy trading collaboration.
With ISPRL, ADNOC agreed to “explore a range of opportunities spanning crude oil, LNG and LPG storage as well as strategic reserves”, ADNOC said in an online statement. “This includes a potential increase in ADNOC’s crude oil storage in India up to 30 million barrels, including existing storage at Mangalore and potential new storage opportunities at Vishakhapatnam and Chandikol.
“The agreement also explores potential crude storage in Fujairah as part of India’s strategic petroleum reserve, alongside potential LNG and LPG storage opportunities in India, supporting energy security and enhancing the resilience of UAE-India energy supply chains amid a challenging global shipping environment”.
The agreement with IOCL involves potential “expanded LPG supply and trading opportunities, including through ADNOC Global Trading, building on the companies’ existing LPG term contract in place since 2023 and supporting the development of a potential long-term LPG sale and purchase agreement”, ADNOC said. “The agreement reinforces ADNOC’s role as a reliable LPG supplier to India and enables deeper integration across supply and shipping”.
“As one of the world’s fastest-growing major economies and a key driver of global energy demand, India continues to be a strategic priority for ADNOC and sits at the center of key global energy growth trends”, ADNOC added.
ADNOC managing director and chief executive Sultan Al Jaber said, “India’s scale and growth trajectory make it one of the defining energy markets of our time. As demand accelerates alongside a rapidly expanding population, the strength of the UAE-India energy partnership becomes ever more critical”.
The South Asian country was the United Arab Emirates’ biggest market for liquefied natural gas (LNG) and refined oil products as of 2024, according to the Energy Institute’s latest “Statistical Review of World Energy”. The Gulf nation exported 4.6 billion cubic meters (162.45 billion cubic feet) of LNG and 13.6 million metric tons of refined petroleum products to India in 2024, according to the report.
Earlier in 2026 ADNOC Gas PLC, ADNOC’s gas processing and sales arm, signed a 10-year agreement valued at $2.5-3 billion to export 500,000 metric tons a year of LNG to India’s state-owned Hindustan Petroleum Corp Ltd (HPCL).
“By 2029 ADNOC Gas will be the operator for 15.6 MTPA [million metric tons per annum] of LNG and of that 3.2 MTPA is contracted to Indian energy companies including HPCL”, ADNOC Gas said in a press release January 19.
“This agreement will be supplied from ADNOC Gas’ Das Island liquefaction facility, which has a production capacity of up to 6 MTPA and ranks among the world’s longest-operating LNG plants”.
“The Hindustan Petroleum agreement aligns with ADNOC Gas’ strategy to broaden its customer base and expand its presence in India and in key growth markets across Asia”, ADNOC Gas added. “Over the past three years, the Company has secured a series of long-term LNG agreements ranging from 0.4 to 1.2 mtpa, with contract durations of up to 14 years”.