ADNOC signs 10-year LNG supply deal with Gujarat Energy
The agreement involves the delivery of up to four million tonnes of liquefied natural gas starting from 2028.
Abu Dhabi National Oil Company (ADNOC) signed a 10-year sales and purchase agreement with Gujarat Energy on Friday to provide up to four million tonnes of liquefied natural gas (LNG) starting in 2028, according to The Hindu.
The deal involves LNG produced outside the Gulf and owned by XRG, which is the international investment arm of ADNOC, through its global marketing and trading platform.
This marks the fifth such LNG supply arrangement ADNOC has made with an Indian firm, following previous deals with Bharat Petroleum, Indian Oil Corporation, GAIL, and Hindustan Petroleum.
Rashid Al Mazrouei, ADNOC's Chief Marketing and Origination Officer (LNG), said the agreement represents the first sale of molecules from the international portfolio of XRG and reinforces a commitment to providing reliable, long-term supplies to India.
Avantika Singh Aulakh, Managing Director of Gujarat Energy, stated that the partnership allows the two companies to join forces through their collaboration.
Gujarat Energy, which is backed by the government of Gujarat, manages a city gas distribution network covering 44 districts across six states.