The UAE’s ADNOC Gas, a subsidiary of the Abu Dhabi National Oil Company , has won a 10-year contract to supply 0.5 million metric tons per annum (mmtpa) of Liquified Natural Gas (LNG) to GAIL India Limited, India’s leading natural gas company.
“This long-term LNG supply agreement with GAIL India marks a significant step forward in our commitment to continue providing reliable and sustainable energy solutions to our partners and customers around the world,” said Dr. Ahmed Mohamed Alebri, Chief Executive Officer of ADNOC Gas.
The value of the agreement was not disclosed.
The deal is the latest in a series of significant international LNG sales agreements made by the company. In 2023 alone, ADNOC Gas signed several LNG agreements valued between $9.4 billion (Dh34.5 billion) and $12 billion (Dh44 billion).
These include an agreement with Japan Petroleum Exploration (JAPEX), estimated to be worth between $450 million and $550 million, a deal with the Indian Oil Corporation, valued at between $7 billion and $9 billion, and a three-year supply agreement worth $1.2 billion with TotalEnergies Gas and Power, a subsidiary of France’s TotalEnergies.
Last September, ADNOC also signed a deal with PetroChina, a subsidiary of China’s state-owned energy giant PetroChina, valued between $450 million and $550 million.
ADNOC is currently progressing a new low-carbon Ruwais LNG project, set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power.
The board of the group has also recently increased its budget allocation for decarbonisation initiatives to $23 billion. The increased budget will focus on domestic and international carbon management platform investments.
ADNOC aims to play a significant role in the UAE’s economic and industrial growth, with plans to inject $48.5 billion back into the UAE economy over the next five years.Â
