DUBAI, Sept 9 (Askume) – Abu Dhabi National Oil Co has agreed to sign a 15-year deal to supply 1 million tonnes of liquefied natural gas per year to Indian Oil Corporation (IOC.NS) , the Abu Dhabi Media Office said on Monday .
The LNG will mainly come from ADNOC’s Ruvis LNG project, the government media office said.
ADNOC has ambitions in natural gas and LNG, which it sees as the pillars of its future growth along with renewable energy and petrochemicals, putting it on par with regional rival Qatar, which is one of the world’s biggest LNG exporters along with Saudi Arabia. It also produces liquefied natural gas.
ADNOC has given Shell (SHEL.L) , BP (BP.L) , TotalEnergies (TTEF.PA) and Japan’s Mitsui each a 10% stake in the Ruwais project, which is expected to start production in late 2028.
The project will run on clean energy and consist of two plants, each producing 4.8 million tonnes per annum (MTPA) of LNG, doubling ADNOC’s LNG production capacity to 15 MTPA.
ADNOC has signed other deals for supplies of LNG from Ruwais with Shell, Mitsui, Osaka Gas , China’s ENN Group , and Germany’s EnBW and SEFE.
