ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of liquefied natural gas (LNG) to India's largest Natural Gas Company, GAIL (India) Limited.
This is pursuant to a memorandum of understanding (MoU) dated 30 October 2022 between GAIL and ADNOC Gas.
Under this agreement, the deliveries will commence from 2026 onwards for a duration of 10 years, across India.
Gas consumption in India would rise to over 500mcm/d by 2030 from the present 155 mcm/d, Indian oil minister Hardeep Singh Puri said earlier in January.
GAIL has an LNG portfolio of around 14 million tons per year comprising supplies from countries including the USA, Qatar, Australia and Russia, based on its 2022/23 annual report.