ADNOC introduced immediately it has signed a 15-year Gross sales and Buy Settlement (SPA) with Indian Oil Company Ltd (IndianOil), India’s largest built-in and diversified power firm, for the availability of 1 million tonnes each year (mtpa) of liquefied pure fuel (LNG) sourced primarily from ADNOC’s lower-carbon Ruwais LNG undertaking.
The 15-year SPA converts a earlier Heads of Settlement right into a definitive settlement and underscores ADNOC’s expanded international footprint, notably throughout the high-demand Asian LNG market, and reinforces its function as a dependable international provider of LNG.
Beneath the phrases of the SPA, LNG cargoes will be delivered to any port throughout India, supporting the nation’s rising power wants and enhancing its power safety.
By 2029, IndianOil is about to change into ADNOC’s largest LNG buyer, with a complete offtake of two.2 mtpa – comprising 1.2 mtpa from ADNOC’s Das Island operations and 1 mtpa from the Ruwais LNG undertaking.
Rashid Khalfan Al Mazrouei, ADNOC Senior Vice President, Advertising, mentioned, “This long-term settlement with IndianOil underscores the strong power relations between the UAE and India. By way of our world-class Ruwais LNG Challenge, ADNOC will proceed to offer extra lower-carbon fuel to fulfill rising international demand, gasoline industries and energy properties.”
ADNOC’s Ruwais LNG undertaking, presently underneath improvement in Al Ruwais Industrial Metropolis, Abu Dhabi, is predicted to begin business operations in 2028.
So far, over 8 mtpa of the undertaking’s 9.6 mtpa manufacturing capability has been dedicated to worldwide prospects via long-term agreements, underscoring robust international demand for ADNOC’s lower-carbon LNG.
The SPA highlights the success of the Complete Financial Partnership Settlement (CEPA) signed between the UAE and India in 2022, which continues to foster deeper bilateral commerce and power cooperation.
The Ruwais LNG facility would be the first within the Center East to run on clear energy, positioning it among the many lowest-carbon depth LNG vegetation globally. It’ll leverage superior applied sciences, together with AI, to reinforce security, effectivity, and sustainability.
ADNOC Gasoline introduced in November 2024 that it expects to accumulate ADNOC’s 60% stake within the Ruwais LNG undertaking at price, within the second half of 2028.
Upon completion, the undertaking, comprising two 4.8 mtpa liquefaction trains with a mixed capability of 9.6 mtpa, will greater than double ADNOC Gasoline’ current operated LNG manufacturing capability to round 15 mtpa.
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