General – Gas Deal
ADNOC and India’s Hindustan Petroleum Corporation (HPCL) have signed a long-term liquefied natural gas (LNG) sales and purchase agreement valued at between $2.5 billion and $3 billion.
Under the 10-year deal, ADNOC Gas will supply 0.5 million tonnes of LNG per year to HPCL. The LNG will be sourced from ADNOC’s Das Island liquefaction facility, one of the world’s longest-operating LNG plants, with a total production capacity of 6 million tonnes per annum.
HPCL will receive the LNG cargoes at its 5 million-tonne-per-annum LNG import and regasification terminal in Chhara, Gujarat.
The agreement was finalised during a high-profile visit by UAE President Sheikh Mohamed bin Zayed Al Nahyan to India, where he met with Prime Minister Narendra Modi.
The deal underscores the deepening energy and trade ties between the two countries.
