Abu dhabi: ADNOC announced today it has signed a 15-year Sales and Purchase Agreement with Indian Oil Corporation Ltd (IndianOil), India's largest integrated and diversified energy company, for the supply of 1 million tonnes per annum (mtpa) of liquefied natural gas (LNG) sourced primarily from ADNOC's lower-carbon Ruwais LNG project.
According to Bahrain News Agency, the 15-year SPA converts a previous Heads of Agreement into a definitive agreement and underscores ADNOC's expanded global footprint, particularly across the high-demand Asian LNG market, and reinforces its role as a reliable global supplier of LNG.
Under the terms of the agreement, LNG cargoes can be delivered to any port across India, supporting the country's growing energy needs and enhancing its energy security.
By 2029, IndianOil is set to become ADNOC's largest LNG customer, with a total offtake of 2.2 mtpa - comprising 1.2 mtpa from ADNOC's Das Island operations and 1 mtpa from the Ruwais LNG project.