HPCL inks $3 billion LNG deal with UAE’s ADNOC Gas

Hindustan Petroleum Corporation Ltd (HPCL) on Monday signed a USD 3 billion deal with the Abu Dhabi National Oil Company Gas (ADNOC Gas) to purchase liquefied natural gas (LNG), making HPCL the UAE firm’s top customer.

The agreement was finalised during a brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al Nahyan, who held talks with Prime Minister Narendra Modi.

Under the Sales and Purchase Agreement (SPA), ADNOC Gas will supply 0.5 million tonnes of LNG annually to HPCL for a period of 10 years, starting in 2028.

The deal strengthens India’s energy security and deepens strategic energy ties between India and the UAE, as the country continues to diversify its LNG imports to meet rising domestic demand.