Abu Dhabi - Mubasher: Abu Dhabi National Oil Company (ADNOC) has signed a 15-year sales and purchase agreement (SPA) with Indian Oil Corporation Limited (IndianOil) for 1 million tons per annum (mtpa) of liquefied natural gas (LNG) from its Ruwais LNG project.
The deal strengthens ADNOC’s global operation, particularly in Asia and supports India’s growing energy demand, according to a press release.
Under the terms, LNG cargoes will be delivered to any Indian port, enhancing the country’s energy security.
By 2029, IndianOil will become ADNOC’s largest LNG customer, with total offtake reaching 2.20 mtpa from both Ruwais and Das Island operations.
Rashid Khalfan Al Mazrouei, ADNOC’s Senior Vice President, Marketing, said: “This long-term agreement with IndianOil underscores the robust energy relations between the UAE and India.”
“Through our world-class Ruwais LNG Project, ADNOC will continue to provide more lower-carbon gas to meet growing global demand, fuel industries and power homes,” he added.
In November 2024, ADNOC Gas announced plans to acquire ADNOC’s 60% stake in the Ruwais LNG project in the second half (H2) of 2028.
The facility, set to begin operations in 2028, is set to become the Middle East’s first clean-powered LNG plant with two 4.80 mtpa trains and a total capacity of 9.60 mtpa. This will raise ADNOC Gas’ output to about 15 mtpa.
