ADNOC signs 10-year LNG supply deal with Gujarat Energy
The agreement marks the first commercial sale from the international gas portfolio of ADNOC's investment arm, XRG.
Abu Dhabi National Oil Co (ADNOC) has entered into a 10-year sales and purchase agreement to provide up to 4 million tonnes of liquefied natural gas (LNG) to Gujarat Energy Ltd starting in 2028, according to Siasat.
The deal represents the fifth LNG supply arrangement ADNOC has made with an Indian company. Previous contracts were signed with Indian Oil Corporation (IOC), GAIL, Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum.
The supply will be managed through XRG, the international investment arm of ADNOC, using gas produced outside the Gulf. This marks the first time XRG is selling molecules from its international portfolio.
Rashid Al Mazrouei, ADNOC's chief marketing and origination officer for LNG, said the agreement reinforces a commitment to providing reliable, long-term supplies to India through an integrated marketing and trading platform.
Gujarat Energy Managing Director Avantika Singh Aulakh stated that the partnership allows the companies to join forces. She noted that the company operates a city gas distribution network across 44 districts in six states.
ADNOC's global LNG marketing and trading platform aims to reach a target of 47 million tonnes per annum of marketable LNG beyond 2030.