Current Affairs - Business - Discussion

The 10-year LNG supply agreement was signed between Abu Dhabi National Oil Company Gas and HPCL, marking a significant step in India’s long-term energy security strategy. Under this deal, HPCL will receive 0.5 million tonnes per annum of LNG from ADNOC Gas’s Das Island facility, with the contract value estimated between $2.5 and $3 billion. The agreement supports India’s goal of increasing natural gas to 15% of its energy mix by 2030 and further strengthens bilateral energy cooperation between India and the UAE.