Indian Oil Corp Eyes More Long-Term LNG Deals to Meet Rising Energy Demand

Indian Oil Corporation (IOC), India's largest refiner, is actively pursuing additional long-term LNG import agreements to secure stable energy supplies. This follows its recent $7 billion deal with ADNOC for 1.2 million tons of LNG annually over 14 years starting in 2026. The move aligns with India’s strategy to double the share of natural gas in its energy mix by 2030. IOC is also in discussions with U.S. suppliers, including Cheniere Energy, for potential LNG contracts amid growing domestic energy demand.

Sources: Reuters, Economic Times, Moneycontrol