Abu Dhabi Nationwide Oil Co PJSC (ADNOC) has signed agreements with state-owned Indian Strategic Petroleum Reserves Ltd (ISPRL) and Indian Oil Corp Ltd (IOCL) to assist Indian power safety and pursue power buying and selling collaboration.
With ISPRL, ADNOC agreed to “discover a spread of alternatives spanning crude oil, LNG and LPG storage in addition to strategic reserves”, ADNOC stated in an internet assertion. “This features a potential improve in ADNOC’s crude oil storage in India as much as 30 million barrels, together with present storage at Mangalore and potential new storage alternatives at Vishakhapatnam and Chandikol.
“The settlement additionally explores potential crude storage in Fujairah as a part of India’s strategic petroleum reserve, alongside potential LNG and LPG storage alternatives in India, supporting power safety and enhancing the resilience of UAE-India power provide chains amid a difficult international delivery surroundings”.
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The settlement with IOCL includes potential “expanded LPG provide and buying and selling alternatives, together with by means of ADNOC International Buying and selling, constructing on the businesses’ present LPG time period contract in place since 2023 and supporting the event of a possible long-term LPG sale and buy settlement”, ADNOC stated. “The settlement reinforces ADNOC’s position as a dependable LPG provider to India and permits deeper integration throughout provide and delivery”.
“As one of many world’s fastest-growing main economies and a key driver of worldwide power demand, India continues to be a strategic precedence for ADNOC and sits on the heart of key international power development tendencies”, ADNOC added.
ADNOC managing director and chief govt Sultan Al Jaber stated, “India’s scale and development trajectory make it one of many defining power markets of our time. As demand accelerates alongside a quickly increasing inhabitants, the power of the UAE-India power partnership turns into ever extra vital”.
The South Asian nation was the United Arab Emirates’ largest marketplace for liquefied pure fuel (LNG) and refined oil merchandise as of 2024, based on the Vitality Institute’s newest “Statistical Assessment of World Vitality”. The Gulf nation exported 4.6 billion cubic meters (162.45 billion cubic ft) of LNG and 13.6 million metric tons of refined petroleum merchandise to India in 2024, based on the report.
Earlier in 2026 ADNOC Gasoline PLC, ADNOC’s fuel processing and gross sales arm, signed a 10-year settlement valued at $2.5-3 billion to export 500,000 metric tons a 12 months of LNG to India’s state-owned Hindustan Petroleum Corp Ltd (HPCL).
“By 2029 ADNOC Gasoline would be the operator for 15.6 MTPA [million metric tons per annum] of LNG and of that 3.2 MTPA is contracted to Indian power firms together with HPCL”, ADNOC Gasoline stated in a press launch January 19.
“This settlement might be equipped from ADNOC Gasoline’ Das Island liquefaction facility, which has a manufacturing capability of as much as 6 MTPA and ranks among the many world’s longest-operating LNG vegetation”.
“The Hindustan Petroleum settlement aligns with ADNOC Gasoline’ technique to broaden its buyer base and increase its presence in India and in key development markets throughout Asia”, ADNOC Gasoline added. “Over the previous three years, the Firm has secured a sequence of long-term LNG agreements starting from 0.4 to 1.2 mtpa, with contract durations of as much as 14 years”.
To contact the writer, electronic mail jov.onsat@rigzone.com
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