Abu Dhabi firm signs 10-year gas supply deal with Gujarat Energy

Abu Dhabi National Oil Company has signed a ten-year sales and purchase agreement with Gujarat Energy to supply up to four million tonnes of liquefied natural gas starting from 2028.

Key Deal Details

Under this agreement, XRG, which is the international investment arm of ADNOC, will supply gas produced from outside the Gulf through ADNOC's global platform. Rashid Al Mazrouei, who is the Chief Marketing and Origination Officer for LNG at ADNOC, stated that this is the first sale of molecules from XRG's international portfolio. Avantika Singh Aulakh, the Managing Director of Gujarat Energy, noted that both partners are joining forces to fully use the power of this collaboration. Gujarat Energy runs a city gas distribution network that covers forty-four districts across six states.

Context

This marks the fifth long-term LNG supply deal between ADNOC and an Indian company, following earlier arrangements with Bharat Petroleum, Indian Oil Corporation, GAIL, and Hindustan Petroleum. ADNOC's global platform also holds supply agreements with Japan's INPEX and Thailand's Gulf Group with a target to market forty-seven million tonnes per annum beyond 2030.