ADNOC Gas said Monday it signed a 10-year heads of agreement with Indian state-run refiner Hindustan Petroleum Corporation Ltd. (HPCL) to supply 0.5 million metric tons of liquefied natural gas (LNG) per year.
The deal reinforces ADNOC Gas’ global footprint, particularly in Asia's high-demand LNG market, and highlights its position as a reliable international supplier of natural gas, the company, a subsidiary of Abu Dhabi National Oil Company (ADNOC), said in a statement.
The agreement also strengthens ADNOC Gas' partnerships with major Indian energy firms and supports India’s energy security, building on recent deals with Indian Oil Corp. and GAIL (India) Ltd., it added.
"This long-term agreement with HPCL, our third with Indian companies in the past year, reflects the robust energy partnership between the UAE and India," said Fatema Al Nuaimi, CEO of ADNOC Gas.
"This milestone underscores ADNOC Gas’ ability to reliably meet rising global demand for LNG and support India’s ambition to increase natural gas to 15% of its primary energy mix by 2030," Al Nuaimi added.
The LNG will be sourced from ADNOC Gas’ Das Island liquefaction facility, which has an annual production capacity of 6 million metric tons.
By Handan Kazanci
Anadolu Agency
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