The Indian company Indian Oil Corporation (IOC) has signed two long-term LNG import deals, totalling 2 Mt/year, with the French oil and gas company TotalEnergies and the United Arab Emirates’ ADNOC. Under the agreements, ADNOC would supply 1.2 Mt/year of LNG to IOC for a duration of 14 years, while TotalEnergies would supply 0.8 Mt/year of LNG to the Indian company for a duration of 10 years. Under both deals, supply would begin in 2026.
In 2020, the Indian government announced plans to expand the gas grid by 66%, aiming to reach 15% of natural gas in the energy mix by 2030 (6% in 2021). All the gas in India is imported as LNG. Qatar supplied 40% of LNG imports in 2020 (down from 91% in 2014), followed by the United Arab Emirates (12% compared to 1% in 2014), Nigeria (11% compared to 6% in 2014), the United States and Angola (9% each), and Oman (5%).