In a significant leap forward for India’s energy sector, Oil and Natural Gas Corporation (ONGC) has entered into landmark agreements with Gunvor Singapore Pte. Ltd. and Emirates National Oil Company (Singapore) Pvt. Ltd. These master LNG sale and purchase agreements, finalized on August 7 and August 9, 2024, respectively, mark ONGC’s inaugural venture into such contracts, signaling a robust push towards the Indian government’s goal of increasing natural gas consumption to 15% by 2030.
The deals not only represent a pivotal moment in LNG marketing but also align with ONGC’s broader strategy of expanding its footprint across the energy value chain. These agreements are poised to enhance ONGC’s market position and further India’s ambitions in the global energy landscape.
This milestone was facilitated by Shardul Amarchand Mangaldas & Co., with a dedicated team comprising Prashant Sirohi, Varnika Mohan, Suranjan Shukla, and Siddharth Jain, who played a key role in guiding ONGC through this complex transaction.
