Adnoc Gas announced on 18 July a 14-year agreement to supply up to 1.2mn t/y of LNG to Indian Oil Corporation (IOC). Adnoc values the deal at $7-9bn, implying an expected typical sales price of approximately $10/mn BTU – with LNG sales deals linked to oil prices, the eventual price will depend on oil price movements. No date was provided for the start of supplies.
Adnoc Gas currently operates a 5.8mn t/y LNG export facility on Das Island, which it plans to expand to 6.6mn t/y by 2028 through debottlenecking (MEES, 24 February). A planned 9.6mn t/y greenfield facility is also planned to be constructed in Ruwais in the second half of the decade. (CONTINUED - 115 WORDS)