Abu Dhabi National Oil Company (ADNOC) has agreed to a five-year liquefied natural gas (LNG) supply deal with India's Bharat Petroleum (BPCL), set to commence in April 2025.

Under the terms of the agreement, BPCL will receive 40 cargoes of LNG totalling 2.5 million tonnes (mt), reported Reuters, citing sources with knowledge of the matter.

The supply will initially be lower and will increase gradually over the first two years.

The deal between ADNOC and BPCL is expected to be formalised during the India Energy Week conference.

Alongside this, ADNOC is set to finalise a 15-year LNG sale and purchase agreement with Indian Oil Corporation (IOC), agreed upon in September 2024.

In an email response, ADNOC stated: "We do not comment on commercial negotiations."

Requests for comments from BPCL and IOC were not immediately returned.

India, the world's fourth-largest importer of LNG, is actively working to increase the gas share in its energy mix from 6.2% to 15% by 2030.

Indian companies are also exploring LNG purchases from the US, according to Oil Secretary Pankaj Jain.

This month, ADNOC Gas reported a record net income of $5bn (Dh18.36bn) for fiscal year 2024, reflecting a 13% year-on-year increase. The company also saw a 14% growth in earnings before interest, taxes, depreciation and amortisation (EBITDA) to $8.65bn, maintaining a stable 35% margin.

Additionally, ADNOC Gas achieved its highest quarterly income of $1.38bn since its initial public offering, with total sales volumes rising by 2% to 3.62 billion British thermal units.

 Also, in January 2025, ADNOC Gas signed a $450m LNG supply deal with Japan’s JERA Global Markets, a utility-backed seaborne energy trader.

The LNG will be sourced from ADNOC Gas' Das Island facility, which has an annual production capacity of 6mt.