ALNG is a subsidiary of ADNOC Gas, which is a large-scale integrated gas processing and sales company operating across the gas value chain, HPCL said in a statement.
As per the HOA terms, HPCL said it will receive LNG at the recently-commissioned Chhara LNG terminal in Gujarat to meet the demand of its refineries, city gas distribution network and for marketing to downstream customers, HPCL said.
The agreement underscores the deepening ties between India and the UAE, emphasizing the role of LNG in supporting India’s energy transition, the company added.
HPCL shares were trading 0.92% lower at ₹400.1 apiece at 9.45 am on Monday. The stock has declined 10% in the past month.
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