Abu Dhabi, IOC Ink Deal for 1 Million Tonnes of LNG Annually

• ADNOC to supply IOC 1 mtpa LNG from Ruwais for 15 years.
• Ruwais LNG, starting 2028, will be West Asia’s first clean-energy-powered facility.
• IOC to become ADNOC’s largest LNG customer by 2029 with 2.2 mtpa.

Abu Dhabi National Oil Company (ADNOC) has concluded a 15-year Sales and Purchase Agreement with Indian Oil Corporation (IOC) to provide one million tonnes per annum (mtpa) of liquefied natural gas (LNG) from its environmentally friendly Ruwais LNG project.

The agreement allows LNG to be delivered to a variety of Indian ports and responds to India's growing energy requirements, with an added benefit of enhancing energy security. By 2029, IOC will become ADNOC's largest LNG customer with a total offtake of 2.2 mtpa, with 1.2 mtpa from ADNOC's Das Island operations and 1 mtpa from Ruwais.

Rashid Khalfan Al Mazrouei, ADNOC’s Senior Vice President for Marketing, remarked that "the agreement also propels the UAE-India energy partnership by licensing the Ruwais project to supply low-carbon gas to meet global demand for energy and industry as well as support manufacturing and energy transition."

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The Ruwais LNG facility in Al Ruwais Industrial City, which will become West Asia's first clean energy powered LNG plant and ultimately, one of the world’s lowest-carbon-intensity LNG plants, will begin operations in 2028. The Ruwais LNG facility is also designed to leverage advanced technologies, including artificial intelligence, to promote safety, efficiency, and environmental sustainability.

The agreement is consistent with the UAE-India Comprehensive Economic Partnership Agreement, 2022 and promotes further trade and energy cooperation. The Ruwais project has two 4.8 mtpa liquefaction trains with a capacity of 9.6 mtpa, and a surplus of approximately 8 million tonnes per annum have been committed to global customers.

Aside from the Ruwais project, ADNOC finalized a 10-year agreement with Hindustan Petroleum for a quantity of half a million tonnes per annum (mtpa) and a 10-year agreement with GAIL for a quantity of 0.52 mtpa, underscoring strong demand for its sustainable LNG supply.