State-owned Hindustan Petroleum Corp. Ltd. (HPCL) has signed a heads of agreement with ADNOC Gas PLC for the delivery of 500,000 metric tons a year of liquefied natural gas (LNG) for 10 years to India.
Abu Dhabi National Oil Co.’s gas processing and sales arm will source the LNG from the Das Island liquefaction facility, which has a capacity of six million metric tons per annum (MMtpa).
“The agreement underscores ADNOC Gas’ expanded global footprint, particularly across the high-demand Asian LNG market, reinforcing its role as a reliable global supplier of LNG”, ADNOC Gas said in a statement online.
“The long-term contract strengthens ADNOC Gas’ partnership with key Indian players as it continues to support India’s energy security, building on recent agreements with Indian Oil Corp. and GAIL India Ltd.”
ADNOC Gas chief executive Fatema Al Nuaimi said, “This long-term agreement with HPCL, our third with Indian companies in the past year, reflects the robust energy partnership between the UAE and India. This milestone underscores ADNOC Gas’ ability to reliably meet rising global demand for LNG and support India’s ambition to increase natural gas to 15 percent of its primary energy mix by 2030”.
HPCL said separately it would receive the LNG at the recently commissioned Chhara LNG Terminal in Gujarat “to meet the demand of its refineries, City Gas Distribution Network and for marketing to downstream customers”.
“This initiative further enables HPCL in building a diverse portfolio encompassing long and short-term LNG contracts to secure LNG and serve customers at competitive prices”, HPCL added.
Last February ADNOC Gas announced a 14-year deal to supply up to 1.2 MMtpa of LNG to Indian Oil. Deliveries, from the Das Island facility, are to start 2026. The agreement was valued $7-9 billion.
Last year ADNOC Gas said it had signed a 10-year agreement to supply 500,000 metric tons a year of LNG to state-owned GAIL India Ltd.
This year ADNOC Gas has now announced four LNG export agreements. Besides HPCL and Indian Oil, the other two customers are Japan’s JERA Co. Inc. and Germany’s state-owned SEFE Securing Energy for Europe GmbH.
The $450-million agreement with JERA lasts three years. The LNG will come from the Das Island facility. The companies did not disclose the volume when announcing the agreement January 27.
Last month ADNOC Gas and SEFE announced an agreement for 700,000 metric tons a year of Das Island LNG for three years starting 2025.
SEFE chief commercial officer Frederic Barnaud said in a press release July 10, “This new medium-term LNG contract builds on the long-term supply agreement with ADNOC that we signed last year, thereby adding another flexible source of LNG to our portfolio – to the benefit of both Europe’s security of supply and our global market trading activities”.
In November 2024, ADNOC and SEFE announced an agreement under which ADNOC would supply one MMtpa of LNG from the Ruwais LNG project to SEFE for 15 years.
Targeted to start production 2028, the 9.6-MMtpa facility under construction on the Persian Gulf coast would more than double ADNOC’s LNG output.
The Das Island facility meanwhile has shipped over 3,500 LNG cargoes worldwide since starting operations 1977, according to ADNOC Gas.
To contact the author, email jov.onsat@rigzone.com
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