Indian Oil signs long term LNG import deals with ADNOC LNG, TotalEnergies – Reuters

Indian Oil signs long term LNG import deals with ADNOC LNG, TotalEnergies – Reuters

NEW DELHI, July 17 (Reuters) - Indian Oil Corp (IOC.NS), the country's top refiner, has signed long-term liquefied natural gas (LNG) import deals with United Arab Emirates' s Abu Dhabi Gas Liquefaction Co Ltd (ADNOC LNG) and France's TotalEnergies (TTEF.PA).

The two deals were signed during Prime Minister Narendra Modi's Visit to France and UAE last week. Supplies under the two deals would commence from 2026, the Indian company said in two separate statements.

ADNOC LNG would supply up to 1.2 million metric tonnes per year (tpy) of LNG to IOC for 14 years, the Indian company said, adding India's trade treaty with UAE enable it to import LNG without paying a 2.5% import tax.