SEATTLE (Oil Monster): The Abu Dhabi National Oil Company (ADNOC) said that its subsidiary company ADNOC Gas has inked a ten-year liquefied natural gas (LNG) supply agreement with GAIL (India) Limited. The multi-year supply agreement aims to supply 0.5 million metric tons per year of LNG to India. The agreement aligns with the broader vision of ADNOC too intensify its focus on gas market opportunities.
According to ADNOC, the agreement highlights its ongoing commitment to contribute to responsible energy practices by entering into strategic partnerships. LNG is expected to play a pivotal role in the transition to more sustainable energy sources. The company aims to play a prominent role in the evolving energy landscape, it noted.
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The Middle East oil major has been keen on expanding its operations, with the aim of more than doubling its total LNG capacity. Its Ruwais plant is set to become the first LNG export facility in the region to operate on clean power, in alignment with the global trend towards a more sustainable energy production.
Meantime, India’s gas consumption is predicted to witness tremendous jump from the present 155 million standard cubic meters a day (mmscmd) to over 500 mmscmd by the end of the current decade.
