ADNOC Gas has signed a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation (IndianOil) for the export of up to 1.2 Mt/year of LNG from its 6 Mt/year Das Island liquefaction facility in Abu Dhabi (United Arab Emirates) to IndianOil. This SPA, estimated at US$7-9bn over its 14-year term, converts the previous Heads of Agreement between the parties into an SPA, with first LNG exports expected to start in 2026.
Over the past two years, ADNOC has signed a series of 15-year LNG SPAs and Heads of Agreement, ranging from 0.4 Mt/year and 1.2 Mt/year, for deliveries from its 9.6 Mt/year Ruwais LNG project as of 2028, including 1 Mt/year to Petronas (Malaysia), 1 Mt/year to SEFE (Germany), 1 Mt/year to ENN (China), and 0.8 Mt/year to Osaka Gas (Japan). Once completed, the Ruwais project, which consists of two 4.8 Mt/year LNG liquefaction trains, will more than double ADNOC’s LNG production capacity to help meet increased global demand for natural gas.
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