New Delhi: State-run Hindustan Petroleum Corporation Limited (HPCL) has signed its first Liquefied Natural Gas (LNG) trading agreement with ADNOC Trading, the company said on Wednesday. "Hindustan Petroleum Corporation Limited (HPCL) and ADNOC Trading have signed LNG Trading Supply Agreement. This Agreement mars a significant step in the strategic partnership between the two organisations, fostering energy security and sustainability," HPCL told the stock exchanges in a regulatory filing.
The LNG will be received at the recently commissioned Chhara LNG Terminal of HPCL LNG Ltd, a wholly-owned subsidiary of HPCL, to meet captive demand of HPCL and also for marketing to other downstream customers, said HPCL. Presently, Chhara LNG Terminal has regasification capacity of 5 MMTPA with gross storage capacity of LNG 400,000 CuM in two equal-sized LNG tanks.
"This milestone marks a significant step in HPCL’s expanding LNG footprint, supported by recently commissioned LNG terminal at Chhara, Gujarat to be a key player in delivering reliable, clean and future-ready energy solutions to the nation," said HPCL in a post on X, formerly known as Twitter.
"This agreement between HPCL and ADNOC Trading underscores the deepening economic ties between India and the UAE, emphasising the role of LNG in supporting India’s energy transition. The partnership positions ADNOC Trading as a key supplier for HPCL, enabling the Indian energy major to diversify its supply portfolio and secure long-term energy solutions," said HPCL.
"The collaboration with ADNOC Trading not only reinforces our international partnerships but also contributes meaningfully to India’s vision of energy security and environmental responsibility," the company added.
