ADNOC inks 15-year LNG deal with Indian Oil
The MoU was among five inked between the two sides
New Delhi, Sep 9 (UNI): Abu Dhabi state oil giant ADNOC on Monday inked a 15-year agreement with Indian Oil Corporation Ltd to supply one million tonnes a year of liquefied natural gas (LNG) to India, following talks between PM Narendra Modi and visiting Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan here.
The LNG will be primarily sourced from ADNOC’s lower-carbon Ruwais LNG project. After talks between PM Modi and the Abu Dhabi Crown Prince, the MoU was among five inked between the two sides today at Hyderabad House.
ADNOC also signed a strategic framework agreement with Indian Strategic Petroleum Reserve Limited to extend its existing oil storage agreement and support India’s energy security.
A Production Concession Agreement was inked for Abu Dhabi Onshore Block between Urja Bharat and ADNOC.
Another agreement was signed between ADQ, an Abu Dhabi-based investment and holding company, and the Government of Gujarat to develop a major food and agriculture park featuring state-of-the-art technologies in India.
An MoU was inked in Barakah Nuclear Power Plant Operations and Maintenance between Emirates Nuclear Energy Company (ENEC) and Nuclear Power Corporation of India (NPCIL).
Crown Prince Sheikh Khaled, who is also chairman of the Abu Dhabi Executive Council, arrived in India on Sunday, accompanied by a high-level delegation, including ministers, senior officials, business leaders and prominent economic partners from the UAE.
