ADNOC SIGNS HEADS OF AGREEMENT WITH INDIANOIL FOR RUWAIS LNG PROJECT

ADNOC announced the signing of a long-term Heads of Agreement (LNG agreement) with Indian Oil Corporation Ltd (IndianOil), India’s largest integrated and diversified energy company, for the delivery of 1 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG).

The LNG will primarily be sourced from ADNOC’s lower-carbon Ruwais LNG project, which is currently under development in Al Ruwais Industrial City, Abu Dhabi, and is expected to start commercial operations in 2028. Under the 15-year agreement, LNG cargoes will be shipped to IndianOil’s destination ports in India.

The agreement further strengthens ADNOC’s position in India’s fast-growing energy market. By 2029, IndianOil is expected to become ADNOC’s biggest LNG customer, with a total offtake of 2.2 mmtpa, comprising 1.2 mmtpa from Das Island and 1 mmtpa from Ruwais LNG.

This LNG supply agreement highlights the success of the Comprehensive Economic Partnership Agreement (CEPA), signed by the UAE and India in 2022, in strengthening bilateral trade cooperation between the two nations.

The agreement with IndianOil is one of several long-term LNG sales commitments ADNOC has signed with international partners for Ruwais LNG for over 70% of the project’s total production capacity.