ADNOC Gas, a UAE-based gas processing company, and its subsidiaries announced on Wednesday, February 12, the signing of a 14-year Sale and Purchase Agreement (SPA) with Indian Oil Corporation Ltd (IndianOil).
Publish dateThursday 13 February 2025 - 14:02
According to Amac News, The agreement includes the export of up to 1.2 million tonnes (mtpa) of liquefied natural gas (LNG) per year to India’s largest integrated and diversified energy company.
The agreement converts previous agreements between the parties into an SPA, with first deliveries set to begin in 2026.
The agreement, signed by ADNOC Gas and IndianOil, is worth between $7 billion and $9 billion over a 14-year period and is a major step forward in the collaboration between the two industry leaders.
Fatima Al Nuaimi, CEO of ADNOC Gas, said: “This agreement strengthens our long-standing partnership with IndianOil and is a testament to the dynamic and strong energy relationship between the UAE and India. As a reliable and responsible supplier of low-carbon gas, ADNOC Gas is keen to support India’s plans to increase the share of gas in its primary energy mix to 15% by 2030.”
The agreement builds on ADNOC Gas’ strategy to expand its customer base, following the signing of several LNG agreements over the past two years. These agreements range from 0.4 MTPA to 1.2 MTPA and are for periods of up to 14 years.
The LNG will be supplied from the Das Island liquefaction facility, which has a production capacity of up to 6 million tonnes per annum.
As the world’s third longest-operating LNG plant, Das Island has shipped more than 3,500 LNG cargoes worldwide since its inception.
The agreement converts previous agreements between the parties into an SPA, with first deliveries set to begin in 2026.
The agreement, signed by ADNOC Gas and IndianOil, is worth between $7 billion and $9 billion over a 14-year period and is a major step forward in the collaboration between the two industry leaders.
Fatima Al Nuaimi, CEO of ADNOC Gas, said: “This agreement strengthens our long-standing partnership with IndianOil and is a testament to the dynamic and strong energy relationship between the UAE and India. As a reliable and responsible supplier of low-carbon gas, ADNOC Gas is keen to support India’s plans to increase the share of gas in its primary energy mix to 15% by 2030.”
The agreement builds on ADNOC Gas’ strategy to expand its customer base, following the signing of several LNG agreements over the past two years. These agreements range from 0.4 MTPA to 1.2 MTPA and are for periods of up to 14 years.
The LNG will be supplied from the Das Island liquefaction facility, which has a production capacity of up to 6 million tonnes per annum.
As the world’s third longest-operating LNG plant, Das Island has shipped more than 3,500 LNG cargoes worldwide since its inception.
amacnews.com/vdcd.50x2yt0jsme6y.html
Source : news agency wam
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