Shardul Amarchand Mangaldas & Co and A&O Shearman have counselled parties on the 14-year multibillion-dollar LNG sale and purchase agreement between the Indian Oil Corporation and Abu Dhabi Gas Liquefaction Company (ADNOC).
Valued between USD7 billion and USD9 billion, the agreement was signed on 12 February 2025 to export up 1.2 million tonnes per annum of liquefied natural gas from ADNOC Gas’s Das Island liquefaction facility to IndianOil.
SAM advised IndianOil in this transaction, while A&O Sherman acted as international counsel for ADNOC.
“Working on this transaction was a rewarding experience and an opportunity to learn from the leaders in the energy sector,” said Prashant Sirohi, lead partner on the transaction team from Shardul Amarchand Mangaldas & Co.
“The transaction required meticulous attention to detail, strategic planning and seamless co-ordination among various stakeholders. Our team was tasked with navigating intricate legal frameworks, negotiating terms that align with our client’s interests, commercial best practices and ensuring compliance with regulatory requirements across jurisdictions.
“Throughout the process, we leveraged our extensive expertise in the energy sector, both domestically and internationally, to address and mitigate potential risks across the value chain for the client. The collaborative effort between our legal team, and the client’s internal team was instrumental in driving the deal to a successful close.”
Partners VR Neelakantan and Sirohi led the SAM team, along with associate Siddharth Jain.
IndianOil is an integrated energy company, which is a government-owned public sector undertaking, delivering oil, gas, petrochemicals and alternative energy sources to domestic customers in homes and across various industries.
ADNOC Gas is a world-class, large-scale integrated gas processing company operating across the value chain, from the receipt of raw gas feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers.
