Gas processing company ADNOC Gas has today (30th January) announced the signing of a 10-year liquefied natural gas (LNG) supply agreement with GAIL India.
Under terms of the deal, ADNOC will supply GAIL with 0.5 million metric tonnes per annum of LNG.
The agreement follows several international LNG sales agreements, such as those with Japan Petroleum Exploration, TotalEnergies Gas and Power, Indian Oil Corporation, and PetroChina International.
Dr. Ahmed Mohamed Alebri, CEO of ADNOC Gas, said the agreement underscores the company’s ongoing dedication to fostering long-term partnerships that promote responsible energy consumption.
He also noted that the deal marks a significant step in the company’s commitment to providing reliable and sustainable energy solutions to its partners and customers.
In 2023, ADNOC Gas maintained strong sales momentum, signing several LNG agreements valued between $9.4bn and $12bn, while continuing to invest domestically.
Earlier this year (January 2024), the company also increased its decarbonisation and low-carbon solutions budget allocation to $23bn.
Read more: ADNOC raises decarbonisation budget to $23bn
According to S&P Global, India is expected to see a significant increase in its LNG imports in 2024, with projections indicating a growth of 7%-8% year-on-year.
European CO2 Summit 2024
An adage that captures the great CO2 paradox in one succinct sentence. Yet this paradox in carbon dioxide availability and sourcing is being challenged. How we see CO2 is changing.
CO2 is shifting from by-product and waste disposal to an integral circular value chain in its own right, but is it moving quick enough?
We know that sourcing has to change. We know the CO2 supply chain in Europe is fraught with instability and vulnerability; at the same time, demand continues to grow. We know that decarbonisation brings opportunities, but it could also present threats if invaluable CO2 is taken off the table and lost.
The clock is ticking, which begs the question, if CO2 is there to be captured and the proven technology exists to do that, what needs to happen next?
Join gasworld in Austria in February as we turn the attention to what comes next and an action plan for the CO2 business of tomorrow, at the Europe CO2 Summit 2024.
To attend, sponsor and for more information, visit https://bit.ly/GWCO2EU-S24