India signs LNG deals with ADNOC and TotalEnergies

India

NEW DELHI, July 17, 2023 – Indian Oil has inked two LNG import deals with Emirati NOC ADNOC and French energy giant TotalEnergies, Reuters reported on Monday.

ADNOC LNG is set to deliver 1.2 million tonnes per year of LNG under a 14-year contract.

TotalEnergies will deliver 800,000 tonnes per year of LNG under a 10-year contract.

Both deals will begin in 2026.

The contracts were signed during Prime Minister Narendra Modi’s visit to the UAE and Saudi Arabia.

Costs of the contracts were not disclosed.

India plans on upping the share of gas in its energy mix to 15% by 2030, up from its current share of 6.2%.

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