IOC Signs Long-Term LNG Import Deal of $7-9 Billion with UAE Company

Indian Oil Corp (IOC), the nation's largest oil firm, has signed a $7-9 billion deal to import LNG from the UAE on a long-term 14-year contract.

- Press Trust of India

NEW DELHI:

IOC signed a long-term deal to receive 1.2 million tonnes per year of LNG from the United Arab Emirates beginning 2026 for 14 years.

"ADNOC Gas has signed a 14-year sales and purchase agreement with Indian Oil Corporation Ltd (IOC) for the export of up to 1.2 million tonnes per annum (mtpa) of Liquefied Natural Gas (LNG) to India's largest integrated and diversified energy company, which will be supplied from Das Island liquefaction facility," ADNOC Gas said in a statement.

The deal was signed on the sidelines of India Energy Week here.