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  • ADNOC Gas Announces a $7-9 Billion,14-year LNG Supply Agreement with Indian Oil Corporation Ltd.
    édité le 20/07/2023 - Plus de news de "ADNOC" - Voir la fiche entreprise de "ADNOC"


ADNOC Gas Announces a $7-9 Billion,14-year LNG Supply Agreement with Indian Oil Corporation Ltd.
   - ADNOC Gas Announces a $7-9 Billion,14-year LNG Supply Agreement with Indian Oil Corporation Ltd.
   - ADNOC Gas to supply up to 1.2 million metric tonnes of LNG per annum to India
   - Agreement underscores ADNOC Gas’ position as a reliable global supplier of LNG, and paves the way for potential further supplies

ADNOC Gas plc (ADNOC), a world-class integrated gas processing company, announced a 14-year supply agreement with Indian Oil Corporation Ltd (IOCL) for the export of up to 1.2 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company. The agreement, valued in the range of $7 billion to $9 billion (AED25.7 to AED33 billion) over its 14-year term, signifies a major step forward in the partnership between the two industry leaders.

The landmark deal marks another significant milestone for ADNOC Gas as it expands its global reach, reinforcing its position as a global LNG export partner of choice, and reaffirming IOCL as its key strategic partner in the LNG market.

Commenting on the agreement, Ahmed Alebri, Chief Executive Officer of ADNOC Gas, said: “We are pleased to announce this long-term LNG sale, further strengthening the long-standing partnership with IOCL. We look forward to expanding our collaboration and take pride in the knowledge that ADNOC Gas’ LNG exports will further support the development of IOCL and contribute to India’s growth story.”
Under the terms of the agreement, ADNOC Gas will deliver up-to 1.2 mmtpa of LNG to IOCL in India. The deal serves as a testament to ADNOC Gas’ ability to meet the growing global demand for LNG, a critical fuel in the energy transition.

About ADNOC Gas

ADNOC Gas, listed on the ADX (ADX symbol: “ADNOCGAS” / ISIN: “AEE01195A234”), is a world-class, large-scale integrated gas processing company operating across the gas value chain, from receipt of raw gas feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers. ADNOC Gas supplies approximately 60% of the UAE’s sales gas needs and supplies end-customers in over 20 countries.

About ADNOC

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification.

About Indian Oil Corporation Limited

With a 33,000-plus work-force, extensive refining, distribution & marketing infrastructure and advanced R&D facilities, IndianOil has been providing energy access to millions of people across the length and breadth of the country through its ever-expanding network of customer touch points, currently numbering over 50,000. With a turnover of Rs. 6,05,924 crore and a net profit of Rs. 16,894 crore for the fiscal 2018-19, IndianOil is one the largest and most trusted corporate in the Country, touching the lives of over a billion Indians.


Origine : Communiqué ADNOC

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