Indian Oil signed Agreement with ADNOC for 1 million tonnes supply of LNG
The Oil Major PSU, IOCL, will become ADNOC’s largest LNG customer by 2029 with a total off-take of 2.2 million tonnes per annum.
Oil PSU, Indian Oil Corporation Ltd (IOCL), has signed a 15-year Sales and Purchase Agreement with Abu Dhabi National Oil Company (ADNOC) for the supply of one million tonnes per annum of LNG from its lower carbon Ruwais LNG Project. According to the terms of agreement, the LNG will be delivered to ports across the nation, meanwhile supporting the growing energy demands and energy security of the country.
The Oil Major PSU, IOCL, will become ADNOC’s largest LNG customer by 2029 with a total off-take of 2.2 million tonnes per annum. This will be comprised of 1.2 million tonnes from ADNOC’s Das Island operations and 1 million tonnes from Ruwais.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
Rashid Khalfan Al Mazrouei, ADNOC Senior Vice President for Marketing, said the agreement reflects the robust energy partnership between the UAE and India, adding that the Ruwais project will provide more lower-carbon gas to meet global demand while supporting industrial growth and energy transition. The Ruwais LNG project, which will be developed in Al Ruwais Industrial City, is expected to begin commercial operations in 2028.
This would be the first LNG facility in West Asia fully backed by clean energy, which would categorize it among the lowest-carbon-intensity LNG plants globally. The project will deploy advanced technologies, including artificial intelligence, to boost safety, efficiency, and sustainability.
The agreement demonstrates the anticipated positive energy deepening the vision of the Comprehensive Economic Partnership Agreement signed between the UAE and India in 2022.
Read Also : THDCIL Achieves one more Major Milestone in Super Thermal Power ProjectRuwais, once operationalized, will comprise two 4.8 million tonnes per annum liquefaction trains, giving it a combined capacity of 9.6 million tonnes per annum. Earlier the company signed a 10-year LNG supply agreement with state-run Hindustan Petroleum Corporation for 0.5 million tonnes per annum earlier this month and another 10-year agreement with GAIL for 0.52 million tonnes per annum last year.
The project came into light in November 2024, and over 8 million tonnes per annum of the project’s 9.6 million tonnes per annum production capacity has already been committed to international customers through long-term agreements, demonstrating strong global demand for lower-carbon LNG.
Read Also : Big amount will be invested by NALCO with Coal India and NTPC in next five years