IOC Signs Agreement with ADNOC for 1 million tonnes Supply of LNG

Oil PSU, Indian Oil Corporation Ltd (IOCL), has signed a 15-year Sales and Purchase Agreement with Abu Dhabi National Oil Company (ADNOC) for the supply of one million tonnes per annum of LNG from its lower carbon Ruwais LNG Project.

According to the terms of agreement, the LNG will be delivered to ports across the nation, meanwhile supporting the growing energy demands and energy security of the country.

The Oil Major PSU, IOCL, will become ADNOC’s largest LNG customer by 2029 with a total off-take of 2.2 million tonnes per annum. This will comprise 1.2 million tonnes from ADNOC’s Das Island operations and 1 million tonnes from Ruwais.