ADNOC Gas has signed a 10-year LNG supply deal with HPCL in India valued at $2.5-3bn. The agreement solidifies the partnership between the UAE and India, with 500,000 tpa of LNG to be exported from ADNOC’s facility. This aligns with India’s goal to increase natural gas in its energy mix to 15% by 2030.

The deal was formalized during President Sheikh Mohamed bin Zayed Al Nahyan’s visit to India, strengthening ties between the two countries. ADNOC Gas aims to supply 15.6mtpa of LNG by 2029, with 3.2mtpa designated for Indian energy companies like HPCL. CEO Fatema Al Nuaimi highlighted the growing energy partnership between the two nations.

ADNOC Gas is focused on expanding its presence in Asia, securing long-term LNG contracts with various markets. The company has amassed over $20bn in total contract value over the past three years. This deal with HPCL reinforces ADNOC Gas’ position as a reliable LNG supplier in the fast-growing Asian energy markets.

Read more at Yahoo Finance: ADNOC Gas inks LNG deal worth up to $3bn with India’s HPCL