GAIL signs 10 year agreement with ADNOC Gas
GAIL signs 10 year agreement with ADNOC Gas
GAIL (India) Limited today signed a 10-year Sales and Purchase Agreement (SPA) with ADNOC Gas for the delivery of up to 0.52 million metric tonnes per annum (MMTPA) of liquified natural gas (LNG), starting in 2026. This is the first SPA of ADNOC Gas with an Indian buyer.
The LNG will be delivered in six cargoes per year from ADNOC Gas’ Das Island natural gas facility, which has an LNG processing capacity of 6.0 MMTPA. It is the third longest established LNG plant still in production globally.
Read Also : Abhijit Majumder assumes charge as Director (Finance) of Oil India LimitedMr. Sanjay Kumar, Director (Marketing), GAIL said: “India is witnessing a growing demand for LNG to meet its increasing natural gas demand in a diversified sectoral pattern. GAIL plans to significantly increase its term LNG portfolio in the coming years to meet this rising demand. This SPA with ADNOC Gas is a crucial step in this direction, enabling GAIL to augment its existing LNG portfolio to better serve its diverse consumer base.”
Mr. Rashid Khalfan Al Mazrouei, ADNOC Gas Senior Vice President, Marketing, said: “This agreement strengthens ADNOC Gas’ role as a reliable and responsible global natural gas provider and reflects our ambition to capture future growth opportunities in gas demand. It also reinforces our position as a preferred partner for energy solutions in India.
Read Also : NMDC sets first-of-its-kind mining vertical with transformation and innovative technology"Global LNG demand is expected to rise by 15% over the next decade, driven by industrial coal-to-gas switching in China and the increased use of LNG for power generation across Southern and Southeast Asia. We are committed to more than doubling our LNG production capacity as part of our strategy to capture a larger share of the growing global demand for lower carbon intensity products like ours.”
In 2023, India ranked as the fourth-largest importer of LNG globally, with expectations for further growth in LNG imports over the next decade. India aims to increase the share of natural gas in the country's total primary energy mix to 15 per cent by 2030, from about 6 per cent today. India's LNG regasification infrastructure has also enhanced to nearly double capacity last year, rising from 21 MMTPA in 2014.
Read Also : NBCC secures order worth Rs 202 crore for Project Management Consultancy servicesNews Must Read
- Possible Collaboration between NLC India and Kerala State Electricity Board
- BEML wins BH60 Rear Dump Trucks worth of Rs 247 crore
- Navaratna PSU stock: Railtel bags order worth Rs 9.93 crore, shares rises above 1.4%
- PSU Honor: Power Ministry awarded First Prize to SJVN
- NLC India Limited Contributes Rs. 1 Crore to Kerala Disaster Mitigation Fund
- THDC India Achieves Major Milestone
- RITES signs MoU with NISE for assuring quality in Green Energy
- DMRC, NCRTC Launches Integrated QR-Ticketing System Enabling Seamless Travel
- K Sanjay Murthy appointed new Comptroller and Auditor General of India
- NHPC Director Reviews Progress of 2000 MW Subansiri Lower HE Project