MUMBAI: Two of India’s biggest state-run oil companies will this week sign agreements to buy liquefied natural gas (LNG) from Abu Dhabi National Oil Co, as the world’s most populous nation looks to secure long-term supplies to meet growing energy demand.
Indian Oil Corp will buy up to 1.2 million tonnes a year of LNG from Adnoc, valued at over US$7bil for the 14-year period of the deal starting 2026, according to a government statement.
