Hindustan Petroleum Corporation Limited has informed the Exchange about HPCL and ALNG signs Heads of Agreement for supply of LNG on term basis.
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HPCL has signed a Heads of Agreement (HOA) with Abu Dhabi Gas Liquefaction Company (ALNG), a subsidiary of ADNOC Gas, for the supply of Liquefied Natural Gas (LNG) over a 10-year term. The LNG will be delivered at HPCL's recently commissioned Chhara LNG Terminal in Gujarat. HPCL plans to use this LNG to meet refinery demand, supply its City Gas Distribution (CGD) network, and market to downstream customers. The agreement is described as strengthening India-UAE economic ties and supporting India's energy transition toward cleaner fuels. Financial details such as volumes, pricing, and contract value were not disclosed in the filing.
This long-term LNG procurement deal secures supply for HPCL's growing gas business and supports its diversification into cleaner energy. It is a positive operational development for the company's CGD and gas marketing segments, though the absence of financial details limits immediate valuation impact.