Abu Dhabi [UAE], November 14 (ANI): GAIL (India) has signed a 10-year sales and purchase agreement with ADNOC Gas for the delivery of up to 0.52 million metric tonnes per annum (MMTPA) of liquified natural gas (LNG), starting in 2026, it said in a statement on Thursday.

This is the first sales and purchase agreement of ADNOC Gas with an Indian buyer, the statement added.

Also Read | KTM Launches 10 New Bikes in India Including KTM Adventure R 890, KTM Duke R 890, KTM Super Adventure S 1290 and KTM Super Duke R; Check Prices Here.

The LNG will be delivered in six cargoes per year from ADNOC Gas' Das Island natural gas facility, which has an LNG processing capacity of 6.0 MMTPA.

It is the third longest established LNG plant still in production globally.

Also Read | Badaun Shocker: Man Slits Wife's Throat With Knife Following Argument in Uttar Pradesh.

Sanjay Kumar, Director (Marketing), GAIL said: "India is witnessing a growing demand for LNG to meet its increasing natural gas demand in a diversified sectoral pattern. GAIL plans to significantly increase its term LNG portfolio in the coming years to meet this rising demand."

"This SPA with ADNOC Gas is a crucial step in this direction, enabling GAIL to augment its existing LNG portfolio to better serve its diverse consumer base."

Rashid Khalfan Al Mazrouei, ADNOC Gas Senior Vice President, Marketing, said: "This agreement strengthens ADNOC Gas' role as a reliable and responsible global natural gas provider and reflects our ambition to capture future growth opportunities in gas demand. It also reinforces our position as a preferred partner for energy solutions in India."

"Global LNG demand is expected to rise by 15 per cent over the next decade, driven by industrial coal-to-gas switching in China and the increased use of LNG for power generation across Southern and Southeast Asia. We are committed to more than doubling our LNG production capacity as part of our strategy to capture a larger share of the growing global demand for lower carbon intensity products like ours."

In 2023, India ranked as the fourth-largest importer of LNG globally, with expectations for further growth in LNG imports over the next decade.

India aims to increase the share of natural gas in the country's total primary energy mix to 15 per cent by 2030, from about 6 per cent today.

India's LNG regasification infrastructure has also enhanced to nearly double capacity last year, rising from 21 MMTPA in 2014.

GAIL, a Maharatna Central Public Sector Enterprise, is India's leading natural gas transmission and distribution company with gas transmission and distribution pipelines, processing and petrochemicals plants besides interest in upstream oil and gas blocks and LNG regasification terminals in India. (ANI)

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)