New Delhi: Indian Oil Corporation (IOC) has signed a sale purchase agreement with the UAE's ADNOC Gas to buy up to 1.2 million tonnes per annum of liquefied natural gas (LNG) starting 2026.
The agreement is valued in the range of $7-9 billion over its 14-year term, ADNOC Gas said in a statement.
The LNG will be supplied from ADNOC Gas' Das Island liquefaction facility, which has a production capacity of up to 6 million tonnes per annum.
Bharat Petroleum Corp (BPCL) also signed an LNG purchase agreement with Adnoc Gas. Under this agreement, BPCL will source 2.4 million tonnes of LNG annually for five years starting April 2025. Indian gas marketers are buying more LNG to meet the growing domestic gas demand.
India also signed its first LNG export agreement on Wednesday. Indian Oil has agreed with Yogya Holdings Nepal for export of around one thousand metric tonnes of LNG to Nepal. It will be the first sale of LNG to Nepal from India by cryogenic trucks through Dhamra Terminal in Odisha.
The agreement is valued in the range of $7-9 billion over its 14-year term, ADNOC Gas said in a statement.
The LNG will be supplied from ADNOC Gas' Das Island liquefaction facility, which has a production capacity of up to 6 million tonnes per annum.
Bharat Petroleum Corp (BPCL) also signed an LNG purchase agreement with Adnoc Gas. Under this agreement, BPCL will source 2.4 million tonnes of LNG annually for five years starting April 2025. Indian gas marketers are buying more LNG to meet the growing domestic gas demand.
India also signed its first LNG export agreement on Wednesday. Indian Oil has agreed with Yogya Holdings Nepal for export of around one thousand metric tonnes of LNG to Nepal. It will be the first sale of LNG to Nepal from India by cryogenic trucks through Dhamra Terminal in Odisha.
