$7 Bn Gas Deal Reinforces India-UAE LNG Relations

17 Feb 2025 CW Team

The 14-year sales and purchase agreement (SPA) with Indian Oil enables ADNOC Gas to provide the export of up to 1.2 million tons per annum (mtpa) of LNG to India’s energy company, converting the previous heads of agreement between the parties into SPA, with first deliveries set to begin in 2026. ADNOC’s subsidiary plans to supply the LNG from its Das Island liquefaction facility, which has a production capacity of up to 6 mtpa. Perceived to be the world’s third longest-operating LNG plant, Das Island has shipped over 3,500 LNG cargoes worldwide since starting operations. The UAE player has underlined that the LNG supply deal, valued in the range of $7 to $9 billion over its 14-year term, marks a major step forward in the partnership between the two companies, reinforcing its role as a reliable supplier of lower-carbon gas. The agreement with the Indian firm is said to build on ADNOC Gas’ strategy to expand its customer base, following a series of LNG deals signed over the past two years, ranging from 0.4 mtpa to 1.2 mtpa for periods up to 14 years. These types of agreements are seen as a way to reinforce the UAE company’s position at the top of the LNG supplier list to key growth markets in Asia, such as India. ADNOC Gas plans to take over ADNOC’s entire stake in the Ruwais LNG project in the second half of 2028 to boost its operated LNG processing capacity to 15.6 mtpa. With more than 7 mtpa of the project’s total production capacity already booked, the development will entail two LNG liquefaction trains. Two of the recent bookings came from Japan’s Osaka Gas and Germany’s Securing Energy for Europe (SEFE).

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