SEATTLE (Oil Monster):Abu Dhabi-based ADNOC Gas plc and its subsidiaries have finalised a long-term sales and purchase agreement (SPA) with Indian state-owned Hindustan Petroleum Corporation Limited (HPCL), valued between $2.5 and $3 billion over 10 years.
The agreement converts a previously signed non-binding Heads of Agreement (HoA) into a binding SPA for the export of 0.5 million tons per year (mtpa) of liquefied natural gas (LNG) from ADNOC Gas’ Das Island facility, which has a 6 mtpa capacity and has delivered over 3,500 cargoes globally.
The SPA was signed during UAE President Sheikh Mohamed bin Zayed Al Nahyan’s state visit to India, highlighting strengthened bilateral energy cooperation with Indian Prime Minister Narendra Modi. The deal elevates India as the UAE’s top LNG customer and secures ADNOC Gas’ role as a key supplier to Asia, with 3.2 mtpa committed to Indian companies from its planned 15.6 mtpa production by 2029.
Since its inception, ADNOC Gas has signed multiple long-term LNG contracts totaling over $20 billion, with terms up to 14 years. This agreement underscores ADNOC Gas’ strategy to provide reliable, lower-carbon LNG to Asia’s rapidly growing energy markets while deepening UAE-India energy relations.
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