RIYADH: To increase its presence in crucial Asian energy markets, Abu Dhabi’s ADNOC Gas has inked a 10-year contract with Hindustan Petroleum Corp. to deliver 500,000 metric tons of liquefied natural gas yearly. According to the deal, ADNOC Gas’ Das Island liquefaction project, which can produce 6 million metric tons of LNG annually, would provide the LNG.
In light of the growing need for cleaner fuel, the purchase further solidifies the Abu Dhabi company’s expanding relationships with Indian energy businesses, even if the transaction’s financial details were not made public. To boost the nation’s energy security, the agreement also strengthens ADNOC Gas’ alliance with significant Indian businesses, expanding on previous agreements with Indian Oil Corp. and GAIL India.
The strong energy partnership between the UAE and India is reflected in this long-term agreement with HPCL, our third with Indian companies in the last year,” stated Fatema Al-Nuaimi, CEO of ADNOC Gas. She went on to say: “This milestone supports India’s goal to increase natural gas to 15% of its primary energy mix by 2030 and demonstrates ADNOC Gas’ ability to meet rising global demand for LNG reliably.
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