ADNOC Signs LNG Supply Agreement with India

Today, ADNOC Gas signed a ten-year agreement to supply 0.5 million tons of liquefied natural gas (LNG) annually to GAIL (India) Limited, the largest natural gas company in India. ADNOC Gas CEO Ahmed Mohammed Al-Abri stated, "India continues to affirm its position as a key market for ADNOC gas products, and this agreement underscores our commitment to establishing long-term partnerships that enhance responsible energy consumption." ADNOC's parent company, the Abu Dhabi National Oil Company, is intensifying its focus on the gas market, viewing gas as a transitional fuel as the world seeks to reduce greenhouse gas emissions amidst increasing competition for LNG since the Russian invasion of Ukraine in February 2022. Indian Oil Minister Hardeep Singh Puri stated earlier in January that gas consumption in India is expected to rise to over 500 million standard cubic meters per day by 2030 from the current 155 million. According to the 2022-2023 annual report, GAIL has an LNG portfolio of approximately 14 million tons annually, including supplies from countries such as the United States, Qatar, Australia, and Russia.