Oil & Gas
ADNOC GAS STRIKES 10‑YEAR LNG DEAL WITH INDIA’S HPCL.
Irene Jerry
ADNOC Gas plc (ADX: ADNOCGAS), the Abu Dhabi‑listed gas and LNG arm of ADNOC, today announced it has signed a 10‑year Heads of Agreement with India’s state‑backed Hindustan Petroleum Corporation Limited (HPCL) to supply 0.5 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG) to HPCL. This marks ADNOC Gas’ third major agreement with Indian public sector energy firms within the past year, underscoring the growing energy collaboration between the UAE and India. adnocgas.ae
Under the agreement, LNG will be sourced from ADNOC Gas’ Das Island liquefaction facility, which has a capacity of 6 mmtpa and is among the world’s longest‑running LNG plants. Since operations began, it has shipped over 3,500 LNG cargoes to customers globally, which reinforces its reliability and operational track record. TradingView
This new deal adds to ADNOC Gas’ existing long‑term gas commitments with Indian utilities: a 14‑year SPA to supply up to 1.2 mmtpa of LNG to Indian Oil Corporation, and a 10‑year contract to deliver 0.52 mmtpa to GAIL India, both scheduled to begin in 2026. These sequential agreements position ADNOC Gas as one of India’s most important LNG suppliers within a narrow timeframe. adnocgas.aeadnocgas.ae
Simultaneously, ADNOC Gas has made significant upstream and financial progress—in June it awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) project (covering Asab, Buhasa, Habshan and Das Island), and in February conducted a secondary share offering that expanded its free float to around 9 percent while its shares remain priced near AED 3.3 on the ADX. Despite a modest day‑on‑day decline of about 0.3 percent at close, the company continues to set a pace of growth well above general market movement.
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