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ADNOC Gas, a subsidiary of Abu Dhabi National Oil Company (ADNOC), has signed a 10-year agreement to supply 0.5 million metric tonnes per year of liquefied natural gas (LNG) to GAIL (India) Limited, India's largest natural gas company. ADNOC Gas's parent company, ADNOC, has increasingly focused on the gas market, viewing it as a transitional fuel in the global effort to reduce emissions.
This long-term supply agreement reflects ADNOC Gas's commitment to fostering partnerships that encourage responsible energy consumption, according to Ahmed Mohamed Alebri, CEO of ADNOC Gas. India remains a key market for ADNOC Gas, and the new deal aligns with the company's strategy to enhance its presence in the growing LNG market.
India's gas consumption is expected to surge to over 500 million standard cubic meters per day (mmscmd) by 2030, compared to the current 155 mmscmd, as stated by Indian Oil Minister Hardeep Singh Puri in January. GAIL, with an LNG portfolio of around 14 million tonnes per year, sources supplies from various countries, including the USA, Qatar, Australia, and Russia.
In 2023, ADNOC Gas inked multiple international LNG agreements valued at $9.4 - $12 billion with companies such as TotalEnergies, Indian Oil Corporation, and PetroChina International. ADNOC aims to more than double its LNG production capacity to meet the rising global demand through the Ruwais plant, set to be the first LNG export facility in the region running on clean power.
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