HPCL and ADNOC Trading Signs their 1st LNG Trading Supply Agreement

Hindustan Petroleum Corporation Limited (HPCL) and ADNOC Trading have signed LNG Trading Supply Agreement. This Agreement marks a significant step in the strategic partnership between the two organizations, fostering energy security and sustainability.

The LNG will be received at recently commissioned Chhara LNG Terminal of HPCL LNG Ltd., a wholly-owned subsidiary of HPCL, to meet captive demand of HPCL and also for marketing to other downstream customers. Presently, Chhara LNG Terminal has regasification capacity of 5 MMTPA with gross storage capacity of LNG 400,000 Cu.M. in two equal sized LNG tanks.

This agreement between HPCL and ADNOC Trading underscores the deepening economic ties between India and the UAE, emphasizing the role of LNG in supporting India's energy transition. The partnership positions ADNOC Trading as a key supplier for HPCL, enabling the Indian energy major to diversify its supply portfolio and secure long-term energy solutions.

Shares of Hindustan Petroleum Corporation Limited was last trading in BSE at Rs. 384.80 as compared to the previous close of Rs. 378.70. The total number of shares traded during the day was 242119 in over 4306 trades.

The stock hit an intraday high of Rs. 390.30 and intraday low of 378.75. The net turnover during the day was Rs. 93165546.00.

Source : Equity Bulls

Keywords

HindustanPetroleumCorporation INE094A01015 HPCL ADNOCTrading LNGTradingSupplyAgreement