GLNG: Indian Oil signs long-term LNG import deals with ADNOC and TotalEnergies

India’s largest refiner Indian Oil Corp. reached agreement on two long-term LNG import deals last week during Prime Minister Narendra Modi’s visits to France and the United Arab Emirates (UAE), Reuters reported on July 17.

The deal with the UAE’s Abu Dhabi Gas Liquefaction Co. Ltd (ADNOC LNG) is for 14 years and will see ADNOC LNG supply the Indian refiner with up to 1.2mn tonnes per year (tpy) of the super-chilled fuel.

It marks the first time ADNOC has secured a long-term LNG import contract with an Indian firm. Meanwhile, Indian Oil will also be able to avoid paying a 2.5% import tax thanks to the country’s trade treaty with the UAE.

Indian Oil’s agreement with France’s TotalEnergies spans 10 years and will see the French company supply 0.8mn tpy of LNG from its global portfolio. Both deals will commence beginning in 2026.