IOC signs USD 7-9 bn long-term LNG import deal with UAE firm

Indian Oil Corporation (IOC) has entered into a 14-year deal, valued at USD 7-9 billion, with ADNOC Gas from UAE for the long-term import of LNG, beginning in 2026. This aligns with India's goal to increase the share of gas in its primary energy mix to 15% by 2030.