Indian Oil, Gail in LNG offtake talks with ADNOC: Press
Indian state-run energy firms Indian Oil Corp. (IOCL) and Gail are in talks with Abu Dhabi National Oil Company (ADNOC) for long-term LNG supply contracts. The discussions are at a fairly advanced stage, Mint reported on January 26 quoting India’s ambassador to the UAE Sunjay Sudhir.
The south Asian country is holding talks with the UAE to work out a mechanism for long-term offtake from an upcoming LNG plant in Fujairah, the newspaper reported.
The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business.
“Two of our companies, Gail and IOCL are in discussions with ADNOC for long-term LNG contracts. Right now, as we speak, discussions have progressed very, very far. And it’s just a question of getting the right numbers. We are very hopeful of concluding it soon," said Sudhir.
Gail and ADNOC in November last year signed a memorandum of understanding to explore collaboration opportunities in LNG supply and decarbonisation.
ADNOC's Fujairah project – comprising two 4.8mn metric tons/year LNG trains – is expected to increase the state-run company's LNG production capacity by 9.6mn mt/yr, as it looks to respond to the growing global demand for natural gas. ADNOC has appointed US-based engineers McDermott International as the design contractor.
The design stage is expected to be followed by the award of an EPC contract in 2023.