ADNOC Gas signs $3 billion LNG deal with Hindustan Petroleum

ADNOC Gas and its subsidiaries have announced the signing of a 10-year sales and purchase agreement valued at between $2.5-$3 billion with Hindustan Petroleum Corporation Limited (HPCL).

The deal was inked during a visit to India by President His Highness Sheikh Mohamed bin Zayed Al Nahyan, where he met with Indian Prime Minister Narendra Modi.

Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, exchanged the signed contract with Vikas Kaushal, Chairman and Managing Director of HPCL.

"This agreement underscores ADNOC Gas’ commitment to delivering reliable LNG to meet global demand, while supporting India’s ambition to increase natural gas to 15 per cent of its energy mix by 2030," said Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas.

This pact converts a previously signed Heads of Agreement between the two companies into a long-term SPA, for the export of 0.5 million tonnes per annum (MTPA) of liquefied natural gas (LNG).

It now brings the total value of contracts being supported and operated by ADNOC Gas to over $20 billion.

India is now the UAE’s largest LNG customer and a very important part of ADNOC Gas’ strategy.

By 2029 ADNOC Gas will be the operator for 15.6 MTPA of LNG and of that 3.2 MTPA is contracted to Indian energy companies, including HPCL.

This agreement will be supplied from ADNOC Gas’ Das Island liquefaction facility, which has a production capacity of up to 6 MTPA and ranks among the world’s longest-operating LNG plants.

Since commencing operations, Das Island has delivered more than 3,500 LNG cargoes globally, demonstrating its strong operational performance and long-standing reliability.

The HPCL agreement aligns with ADNOC Gas’ strategy to broaden its customer base and expand its presence in key growth markets across Asia.

Over the past three years, the company has secured a series of long-term LNG agreements ranging from 0.4 to 1.2 MTPA, with contract durations of up to 14 years.