ADNOC Gas inks LNG deal worth up to $3bn with India’s HPCL

Core Insights - ADNOC Gas has signed a long-term liquefied natural gas (LNG) supply agreement with Hindustan Petroleum Corporation (HPCL) valued between $2.5 billion and $3 billion, marking a significant step in the energy partnership between the UAE and India [1][2][4] Group 1: Agreement Details - The agreement is for a duration of ten years, transitioning from a heads of agreement established in August 2025 to a definitive sales and purchase agreement (SPA) [1][2] - ADNOC Gas will export 500,000 tonnes per annum (tpa) of LNG from its Das Island liquefaction facility, which has an annual production capacity of up to six million tonnes per annum (mtpa) [2][4] Group 2: Future Projections - By 2029, ADNOC Gas is expected to manage a total of 15.6 mtpa of LNG, with 3.2 mtpa allocated for Indian energy companies, including HPCL [3] - The agreement supports India's goal to increase natural gas to 15% of its energy mix by 2030, aligning with ADNOC Gas' strategy to expand its market presence in Asia [4] Group 3: Market Context - Over the past three years, ADNOC Gas has secured multiple long-term LNG contracts with various Asian markets, with contract values exceeding $20 billion [5]