"HPCL secures a $3 billion liquefied natural gas (LNG) deal through a strategic partnership with ADNOC Gas."

Hindustan Petroleum Corporation Ltd (HPCL) has signed a $3 billion agreement to purchase liquefied natural gas (LNG) from Abu Dhabi National Oil Company Gas (ADNOC Gas), becoming the UAE company’s largest customer, HPCL said recently.

The two companies signed a long-term Sales and Purchase Agreement (SPA) during a brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al Nahyan, who held talks with Prime Minister Narendra Modi.

Under the agreement, ADNOC Gas will supply HPCL with 0.5 million tonnes of LNG annually for a period of 10 years, with deliveries set to begin in 2028.