SEOUL, September 10 (AJP) - The Abu Dhabi National Oil Company (ADNOC) has finalized a 15-year contract to provide Indian Oil with 1 million metric tons of liquefied natural gas (LNG) per year, as reported by the Abu Dhabi Media Office on Monday.
Most of the LNG will be sourced from ADNOC's Ruwais LNG project, according to the government media office. ADNOC has significant plans in the gas and LNG sectors, alongside renewable energy and petrochemicals, which it sees as key drivers of its future growth. This puts it in competition with regional giants like Qatar, a leading global LNG exporter, and Saudi Arabia, which is also expanding its LNG ambitions.
ADNOC has granted 10% ownership stakes in the Ruwais project to Shell, BP, TotalEnergies, and Japan’s Mitsui. The project, expected to commence production by the end of 2028, will use clean energy and feature two plants, each with an annual production capacity of 4.8 million tons of LNG. This will more than double ADNOC's current LNG output to reach 15 million tons per year.
In addition, ADNOC has already secured other agreements for LNG supplies from the Ruwais project, involving partners such as Shell, Mitsui, Osaka Gas, China’s ENN, and Germany’s EnBW and SEFE.
