ADNOC
Energy mega deal: ADNOC Gas seals $3 billion LNG agreement with HPCL
ADNOC Gas plc and its subsidiaries, an integrated gas processing and sales company, have announced the signing of a long-term sales and purchase agreement (SPA) with India’s Hindustan Petroleum Corporation Limited (HPCL), valued at approximately $2.5–3 billion over a 10-year period.
The agreement was announced during UAE President Sheikh Mohamed bin Zayed Al Nahyan’s official visit to India, where he met Prime Minister Narendra Modi, underscoring the deepening strategic ties between the two countries.
The contract was exchanged by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, and Vikas Kaushal, Chairman and Managing Director of HPCL.
Under the agreement, ADNOC Gas will supply 0.5 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to HPCL. The SPA converts a previously signed Heads of Agreement into a binding long-term contract.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said the deal reflects the strength of the UAE-India energy partnership.
“We are pleased to sign this long-term LNG supply agreement with Hindustan Petroleum Corporation, which underscores ADNOC Gas’ commitment to delivering reliable LNG to meet global demand, while supporting India’s ambition to raise natural gas to 15% of its energy mix by 2030,” she said.
The LNG will be supplied from ADNOC Gas’ Das Island liquefaction facility, which has a production capacity of up to 6 mtpa and is among the world’s longest-operating LNG plants.
Since commencing operations, Das Island has delivered more than 3,500 LNG cargoes globally.
The agreement strengthens ADNOC Gas’ position as a reliable LNG supplier to Asia’s fast-growing markets and further deepens the UAE-India strategic partnership. It also brings the total value of contracts supported and operated by ADNOC Gas to more than $20 billion.
India is now the UAE’s largest LNG customer and a key pillar of ADNOC Gas’ long-term growth strategy. By 2029, ADNOC Gas is expected to operate 15.6 mtpa of LNG capacity, with 3.2 mtpa contracted to Indian energy companies, including HPCL.
Over the past three years, ADNOC Gas has secured several long-term LNG agreements ranging from 0.4 to 1.2 mtpa, with contract durations of up to 14 years, reinforcing its role as a leading supplier of reliable, lower-carbon LNG to Asia’s expanding energy markets.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
