Gujarat Energy has signed a long-term agreement with Abu Dhabi National Oil Company (ADNOC) to procure up to four million tonnes of liquefied natural gas (LNG) over 10 years, beginning in 2028.
The agreement, announced on Friday, Nov 6, will source LNG from the international gas portfolio of XRG, ADNOC's wholly owned investment arm, according to a regulatory filing.
The companies signed a Sales and Purchase Agreement (SPA), marking ADNOC's fifth LNG supply agreement in India.
XRG, headquartered in Abu Dhabi, has an enterprise value exceeding $150 billion and invests in natural gas, chemicals and energy solutions supporting global industries and artificial intelligence infrastructure.
ADNOC Chief Marketing and Origination Officer (LNG) Rashid Al Mazrouei said the agreement strengthened the company's energy partnership with India.
He described it as the first LNG sale from XRG's international portfolio and emphasised ADNOC's commitment to reliable, flexible and long-term supplies.
The transaction was finalised through ADNOC's global LNG marketing and trading platform.
According to the filing, the platform targets 47 million tonnes per annum of marketable LNG beyond 2030.
It has also secured agreements with INPEX in Japan and Gulf Group in Thailand, expanding ADNOC's commercial presence across Asian energy markets.
The agreement comes against a backdrop of geopolitical tensions in West Asia, which have disrupted crude oil supplies and contributed to price fluctuations since the conflict began on Feb 28.
Oil prices stabilised on Friday after a volatile trading week, although markets remained on course for their steepest weekly decline since April.
Investors were assessing the possibility of an easing of the prolonged conflict.
Meanwhile, comments by US President Donald Trump regarding Iran's nuclear programme added to uncertainty surrounding regional energy supplies.
Brent crude, the international oil benchmark, traded at $99.78 per barrel during the session, approaching the $100 mark.
The LNG agreement provides Gujarat Energy with a long-term procurement arrangement as energy markets continue to face geopolitical uncertainty.
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