+
IOC signs $7-9 billion long-term LNG import deal with UAE firm
OIL & GAS

IOC signs $7-9 billion long-term LNG import deal with UAE firm

Indian Oil Corporation (IOC), the nation's largest oil firm, has signed a USD 7-9 billion deal to import LNG from UAE on a long-term 14-year contract. IOC signed a long-term deal to receive 1.2 million tonnes per year of LNG from the United Arab Emirates beginning 2026 for 14 years. The deal was signed on the sidelines of India Energy Week here. hTe deal with IOC is the second LNG supply deal that the UAE giant signed with an Indian firm at the IEW. It signed a deal with Bharat Petroleum Corporation Ltd (BPCL) to supply 2.4 million tonnes of LNG over a period of 5 years, starting April 2025. The agreement is extendable by another 5 years with mutual consent. Separately, French energy giant TotalEnergies signed a deal to sell 4,00,000 tonnes a year of LNG to Gujarat State Petroleum Corporation Ltd (GPSC) for 10 years starting 2026. The LNG, sourced from TotalEnergies' global portfolio and delivered to terminals on India's west coast, will primarily serve GSPC's industrial customers.

Indian Oil Corporation (IOC), the nation's largest oil firm, has signed a USD 7-9 billion deal to import LNG from UAE on a long-term 14-year contract. IOC signed a long-term deal to receive 1.2 million tonnes per year of LNG from the United Arab Emirates beginning 2026 for 14 years. The deal was signed on the sidelines of India Energy Week here. hTe deal with IOC is the second LNG supply deal that the UAE giant signed with an Indian firm at the IEW. It signed a deal with Bharat Petroleum Corporation Ltd (BPCL) to supply 2.4 million tonnes of LNG over a period of 5 years, starting April 2025. The agreement is extendable by another 5 years with mutual consent. Separately, French energy giant TotalEnergies signed a deal to sell 4,00,000 tonnes a year of LNG to Gujarat State Petroleum Corporation Ltd (GPSC) for 10 years starting 2026. The LNG, sourced from TotalEnergies' global portfolio and delivered to terminals on India's west coast, will primarily serve GSPC's industrial customers.

Next Story
Infrastructure Urban

Mahindra and Sumitomo Sign Pact with Osaka to Boost Japanese Investment

Mahindra Industrial Park Chennai (MIPCL), the developer and operator of Origins by Mahindra, and its strategic partner Sumitomo Corporation have signed a strategic cooperation agreement with the Osaka Prefecture and the Osaka Industrial Development Bureau. The collaboration aims to support Japanese companies—particularly those based in Osaka—in expanding their footprint in India.This tripartite agreement reinforces Mahindra’s commitment to attracting global investments into India’s manufacturing sector and further positions Tamil Nadu as a preferred destination for Japanese industry. S..

Next Story
Infrastructure Urban

Varroc Appoints Padmanabh Sinha as Independent Director

Varroc, a leading global Tier-1 automotive supplier, has announced the appointment of Padmanabh Sinha as an Independent Director on its Board, effective 18 July 2025. This marks Sinha’s return to the Varroc Board, reinforcing the company’s focus on governance, strategic oversight, and long-term value creation.With over 25 years of experience in private equity and technology entrepreneurship, Sinha has held leadership roles at several prominent global and domestic investment institutions. His expertise spans capital allocation, investment stewardship, and value creation across economic cycl..

Next Story
Infrastructure Urban

Mastek Reports 12.5% Y-o-Y Revenue Growth in Q1FY26

Mastek, a trusted provider of AI-first digital engineering and cloud transformation services, reported consolidated revenue of Rs 9.14 billion for the first quarter of FY26, registering a year-on-year (Y-o-Y) growth of 12.5 per cent in rupee terms for the period ended 30 June 2025.The company’s performance was driven by strong growth in the UK and Europe, particularly across healthcare and secured government services. While the US business experienced some challenges in select accounts, Mastek noted that the pipeline and order backlog remain robust.Operating EBITDA stood at 15.0 per cent, wi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?