With a value of up to 11 billion dirhams.."ADNOC Gas" provide "Hindustan Petroleum" with liquefied natural gas for 10 years

ABU DHABI, 19 JANUARY / WAM / The strategic sale and purchase agreement concluded between ADNOC Gas PLC and the Indian Hindustan Petroleum Company, during the working visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him” today, to the Republic of India, stipulates the supply of up to 0.5 million tons annually of liquefied natural gas, with a total value ranging between 9.18 and 11 billion dirhams (equivalent to 2.5 and 3 billion dollars) over ten years.

This step represents an important development that contributes to strengthening the strategic partnership between the UAE and India. The agreement also confirms the pivotal role of ADNOC Gas as a reliable supplier of liquefied natural gas to the rapidly growing Asian markets.

Commenting on this achievement, Fatima Al Nuaimi, CEO of ADNOC Gas, said: We are pleased to sign this long-term agreement to supply liquefied natural gas with Hindustan Petroleum, which confirms the established and growing partnership between the UAE and India in the field of energy, and ADNOC Gas’s commitment to providing reliable supplies of liquefied natural gas to contribute to meeting global demand, and to support India’s ambition to increase the share of natural gas in its energy mix to 15% by 2030.

This agreement brings the total value of contracts managed and supported by ADNOC Gas to 73.45 billion dirhams ($20 billion), as India is today the company’s largest customer, and a fundamental pillar of its LNG strategy, as the growth of ADNOC Gas’s business is closely linked to the process of success and progress witnessed by India.

It is planned that the production capacity of ADNOC Gas will increase by 2029, to reach 15.6 million tons annually of liquefied natural gas, of which 3.2 million tons annually have been contracted to be sold to a number of Indian energy companies, including Hindustan Petroleum Company.

The quantities of liquefied natural gas agreed upon under this agreement will be supplied from ADNOC Gas’s natural gas liquefaction facility on Das Island, which has a production capacity of 6 million tons per year of liquefied natural gas.

It is noteworthy that the Das facility, which is one of the oldest LNG facilities in the world, has exported more than 3,500 shipments of LNG to all parts of the world since the start of its production operations, confirming its strong operational performance and long-term reliability.

This agreement is consistent with ADNOC Gas’s strategy to expand its customer base and enhance its presence in India and in key growth markets across Asia. During the past three years, the company has signed a series of long-term agreements to supply annual quantities of natural gas ranging between 0.4 and 1.2 million tons, under contracts with validity periods of up to 14 years. These agreements contribute to consolidating ADNOC Gas’s position as a leading and reliable global supplier of low-emission liquefied natural gas to the Asian energy markets that are witnessing rapid growth.

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