Indian Oil Corporation Seals Major LNG Deals with Total Energies and Adnoc

Indian Oil Corporation Limited (IOC), a prominent government-owned enterprise, has recently made significant strides in the liquefied natural gas (LNG) sector with lucrative agreements signed alongside France’s Total Energies and Abu Dhabi’s Adnoc. These landmark deals are poised to have a profound impact on India’s energy landscape. The Ministry of External Affairs released a list of agreements, spotlighting the Head of Agreement (HoA) inked between Indian Oil Corporation Limited and Total Energies Gas and Power Ltd (TotalEnergies) for a long-term LNG Sale and Purchase Agreement (SPA).

  1. Multibillion-Dollar Agreements and Competitive LNG Supply:
    In a momentous development, Adnoc is set to supply up to 1.2 million tonnes per year (mtpa) of LNG over a 14-year period, while Total Energies will contribute 0.8 mtpa from its diverse global portfolio for a decade, both starting in 2026. A comprehensive economic cooperation agreement with Abu Dhabi further cements the arrangement by exempting Indian Oil Corporation (IOC) from a 2.5% duty, making the LNG shipments from Adnoc highly cost-effective.
  2. Historic Milestones in the LNG Industry:
    Total Energies achieves a historic milestone by entering into its inaugural long-term agreement with an Indian company, signifying a significant breakthrough in the LNG industry. Additionally, the collaboration marks the first-ever long-term LNG import deal between an Indian company and Adnoc. As the world’s third-largest global LNG supplier, Total Energies will provide IOC with LNG from its extensive global portfolio. Meanwhile, ADNOC LNG, the national oil and gas company of the Abu Dhabi government, holds the distinction of being the longest-standing supplier of natural gas from the Middle East.
  3. About Indian Oil Corporation Limited:
    Indian Oil Corporation Limited, an Indian multinational oil and gas company, operates under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. With its headquarters in New Delhi, Indian Oil is India’s largest government-owned oil producer and ranked 142nd on the Fortune Global 500 list of the world’s largest corporations as of 2022. Driven by the government’s goal of increasing the share of natural gas in the energy mix to 15 percent by 2030, Indian Oil Corporation (IOC) is proactively forging new agreements to ensure a stable and sustainable energy future.


The recent LNG agreements between Indian Oil Corporation Limited and Total Energies, alongside Adnoc, represent a major stride in India’s pursuit of a diverse and secure energy portfolio. With the long-term LNG supply arrangements and the exemption of duty, these partnerships are set to enhance India’s energy security while fostering deeper collaboration and growth in the LNG industry. As IOC continues to forge strategic alliances, the nation’s vision of elevating the share of natural gas in its energy mix will move closer to realization.

Indian Oil Corporation Seals Major LNG Deals – FAQs

Q1: What is the significance of these deals for Indian Oil Corporation (IOC)?

Ans: For Indian Oil Corporation (IOC), these agreements are essential because they provide a substantial contribution to India’s aim of raising the amount of natural gas in its energy mix to 15% by 2030, assuring a stable and sustainable energy future.

Q2: What is the current status of India’s LNG import deals?

Ans: The agreements with Total Energies and Adnoc mark a substantial advancement in India’s LNG import situation by guaranteeing access to LNG from international portfolios and fortifying ties with international energy providers.

Q3: What historic milestones have been achieved with these agreements?

Ans: A major development in the LNG business has been made by Total Energies with the signing of its first long-term contract with a company in India. The partnership between an Indian enterprise and Adnoc also marks the first-ever long-term LNG import agreement.


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    Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti's expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

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