Public Sector Giant GAIL India signed long term LNG deal with UAE’s ADNOC Gas
GAIL India Ltd has underwent a long-term agreement to purchase around 0.5 million mt/year of LNG from the UAE’s ADNOC Gas, from 2026 onwards for around 10 years period.
The state-owned company has significantly concluded a long-term LNG purchase agreement for the intake of around 0.5 million tonnes per annum [MTPA] LNG from ADNOC Gas. This agreement has been followed with respect to the signing of MoU on 30 October 2022 in between GAIL and ADNOC P.J.S.C which was culminated with the potential sharing and collaborating commitments to be provided for the exploring opportunities of both the parties in the field of fuels and energy, including the purchase of LNG for a short and medium term, respectively.
Read Also : 86% of Executives have already deployed AI to enhance revenue, reveals TCS Global AI StudyThe significant collaboration will be helpful to boost the strategic relationship between both the corresponding parties and will propel long-lasting growth in the energy sectors. The supply of gas deliveries will commence in 2026 and would be continued for a long period of 10 years. Meanwhile, the broader impact of the agreement is surely beneficial for the large LNG portfolio for serving the diversified consumer profile.
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