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2 clusters · 11 sources · 3 days · First seen · Last updated

ADNOC and Gujarat Energy LNG agreement

Overview

Gujarat Energy Limited (GEL) and the Abu Dhabi National Oil Company (ADNOC) have entered into a 10 year Sales and Purchase Agreement for liquefied natural gas (LNG). Under the terms of the contract, which is scheduled to begin in 2028, GEL will procure up to four million tons of LNG annually.

The supply will be sourced from the international gas portfolio of XRG, ADNOC’s international investment company. This transaction marks the first time molecules from XRG’s international portfolio have been sold. The pricing for the agreement is linked to the Henry Hub index.

This deal represents ADNOC’s fifth LNG supply agreement within India. Following a previous $3 billion deal signed in January with Hindustan Petroleum Corporation, total contract values between ADNOC and Indian entities now exceed $20 billion. According to GEL Managing Director Avantika Singh Aulakh, the partnership is intended to support India’s energy transition by providing a lower-carbon fuel source for various sectors.

Entities

XRG · Rashid Al Mazrouei · Gujarat Energy Ltd · Abu Dhabi National Oil Company · Gujarat Energy Limited

Timeline

  1. [BUSINESS] 6 sources
    Adnoc signs 10-year LNG supply deal with Gujarat Energy

    Adnoc has signed a 10-year agreement to supply up to 4 million tonnes of LNG annually to India’s Gujarat Energy Ltd, starting in 2028.

  2. [BUSINESS] 5 sources
    Gujarat Energy signs 10-year LNG deal with ADNOC

    Gujarat Energy Limited has signed a 10-year agreement with ADNOC to procure up to 4 million tons of LNG starting in 2028, marking the first sale from ADNOC’s XRG international portfolio.

Sources

absolutegeeks.com · bazaartimes.com · bhaskarlive.in · chemindigest.com · cryptobriefing.com · en.trend.az · europesays.com · gulfnews.com · newsbytesapp.com · socialnews.xyz · trend.az