Abu Dhabi’s ADNOC Fuel has signed a serious long-term liquefied pure gasoline provide settlement with India’s Hindustan Petroleum Company Restricted, underlining the rising strategic vitality partnership between the UAE and India.
The settlement, introduced throughout a state go to by the UAE President to India, additional strengthens ADNOC Fuel’ function as a key LNG provider to Asia’s fast-growing vitality markets.
ADNOC Fuel plc and its subsidiaries introduced the signing of a gross sales and buy settlement valued at between $2.5bn and $3bn over a ten-year interval with Hindustan Petroleum Company Restricted (HPCL).
The settlement was introduced throughout a go to to India by UAE President Mohamed bin Zayed Al Nahyan, the place he met with Indian Prime Minister Narendra Modi.
ADNOC Fuel indicators large LNG take care of India
Throughout the go to, Sultan Ahmed Al Jaber, UAE Minister of Business and Superior Know-how and ADNOC Managing Director and Group CEO, and Vikas Kaushal, Chairman and Managing Director of Hindustan Petroleum Company Restricted, exchanged the signed contract.
Fatema Al Nuaimi, CEO of ADNOC Gas, mentioned: “We’re happy to signal this long-term LNG provide settlement with Hindustan Petroleum Company which displays the robust and rising vitality partnership between the UAE and India.
“This settlement underscores ADNOC Fuel’ dedication to delivering dependable LNG to fulfill world demand, whereas supporting India’s ambition to extend pure gasoline to fifteen% of its vitality combine by 2030.”
The settlement converts a beforehand signed Heads of Settlement right into a long-term SPA and covers the export of 0.5 million tonnes every year (mtpa) of LNG. Valued at roughly $2.5bn to $3bn over its period, the deal represents an additional step in strengthening the strategic partnership between the UAE and India.
The HPCL settlement brings the whole worth of contracts supported and operated by ADNOC Fuel to greater than $20bn. India is now the UAE’s largest buyer and a key pillar of ADNOC Fuel’ LNG technique.
By 2029, ADNOC Fuel would be the operator for 15.6 MTPA of LNG, of which 3.2 MTPA is contracted to Indian vitality firms together with HPCL.
The LNG volumes beneath the settlement might be provided from ADNOC Fuel’ Das Island liquefaction facility, which has a manufacturing capability of as much as 6 mtpa and is among the many world’s longest-operating LNG crops.
UAE-India vitality ties
Since commencing operations, Das Island has delivered greater than 3,500 LNG cargoes globally, highlighting its long-standing operational reliability.
The HPCL deal aligns with ADNOC Fuel’ broader technique to increase its presence in India and throughout key Asian progress markets.
Over the previous three years, the corporate has secured a number of long-term LNG agreements starting from 0.4 to 1.2 mtpa, with contract durations of as much as 14 years, reinforcing its place as a number one provider of dependable, lower-carbon LNG to Asia.
