This week saw two major Gulf NOCs sign new deals to boost their growing LNG trading portfolios. On 30 April, Adnoc Trading signed an agreement to supply India’s Hindustan Petroleum (HPCL) with volumes at the latter’s recently-commissioned LNG import terminal at Chhara in Gujarat province. The 5mn t/y facility has two storage tanks with combined capacity to store 400,000 tons. India is the largest destination for Adnoc’s LNG, although Adnoc Trading could ultimately source cargoes from elsewhere.
The same day, Oman’s OQ Trading signed a 15-year LNG Sales and Purchase Agreement (SPA) to receive 600,000 t/y of LNG from Amigo LNG, the Mexican subsidiary of Singapore-based LNG Alliance. The move is intended to diversify its portfolio away from the Middle East and Asia. OQ Trading praises the “logistically efficient supply route” offered by Amigo LNG, as “the West Coast of Mexico provides a direct maritime path to Asia, reducing shipping time and offering flexibility in supply chain operations.” (CONTINUED - 161 WORDS)