ADNOC deepens India energy ties through storage and LNG agreements
(WO) — ADNOC has signed strategic collaboration agreements with Indian energy companies covering crude oil storage, LNG and LPG cooperation as the UAE and India deepen long-term energy ties amid rising regional supply and shipping concerns.
The agreements were exchanged during a visit by Indian Prime Minister Narendra Modi to the UAE and witnessed by UAE President Mohamed bin Zayed Al Nahyan.
Under one agreement, ADNOC and Indian Strategic Petroleum Reserves Limited (ISPRL) will explore expanded cooperation involving crude oil, LNG and LPG storage, including strategic petroleum reserves.
The companies are evaluating potential expansion of ADNOC crude storage capacity in India to as much as 30 million bbl, including existing storage at Mangalore and possible future storage opportunities at Vishakhapatnam and Chandikol.
The agreement also includes discussions involving potential crude storage in Fujairah connected to India’s strategic petroleum reserve system, alongside LNG and LPG storage opportunities intended to strengthen supply chain resilience.
ADNOC also signed a separate collaboration agreement with Indian Oil Corporation focused on expanding LPG supply and trading cooperation, including potential long-term LPG sales arrangements supported by ADNOC Global Trading.
The companies have maintained an LPG term supply agreement since 2023.
“India’s scale and growth trajectory make it one of the defining energy markets of our time,” said Dr. Sultan Al Jaber, ADNOC managing director and group CEO. “These agreements reinforce supply security, deepen our strategic ties, and underscore ADNOC’s role as a dependable and reliable partner.”
India remains one of the world’s fastest-growing major energy markets and a key driver of global oil, LNG and LPG demand growth.
The agreements come as both countries continue expanding broader trade and infrastructure cooperation under the UAE-India Comprehensive Economic Partnership Agreement, which entered into force in 2022.
