ADNOC announced the deal on 18 July. Credit: Marco Curaba via Shutterstock.

ADNOC Gas, the natural gas division of the Abu Dhabi National Oil Company, has announced a $7–9bn, 14-year liquified natural gas (LNG) supply agreement with Indian Oil Corporation. ADNOC Gas will supply up to 1.2 million tonnes of LNG per year to India.  

The deal was signed as part of Indian Prime Minister Narendra Modi’s official visit to the United Arab Emirates (UAE) last week, according to a statement published by ADNOC on Tuesday. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The deal will “further strengthen the longstanding partnership with Indian Oil Corporation,” ADNOC CEO Ahmed Alebri said in a statement from the company. 

“We look forward to expanding our collaboration and take pride in the knowledge that ADNOC Gas’ LNG exports will further support the development of Indian Oil Corporation and contribute to India’s growth story.” 

India and the UAE have signed a Comprehensive Economic Partnership Agreement that excepts them from the 2.5% import tax that typically applies to LNG. 

ADNOC seeks to expand its LNG markets following Russia’s invasion of Ukraine and the reduced supply of Russian gas. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company described the deal as “a significant milestone for ADNOC Gas as it expands its global reach, reinforcing its position as a global LNG export partner of choice”.   

Indian Oil Corporation also signed an LNG import deal with French energy major TotalEnergies; both deals will commence in 2026. 

Both deals were announced earlier in the week, but Indian Oil gave little detail as to the value of the deals. 

India is the fourth-largest buyer of LNG globally. According to a data company, in April 2023, India’s LNG imports rose to 2.02 million tonnes from 1.94 million tonnes in March and from 1.70 million tonnes in April 2022.