Shardul Amarchand Mangaldas & Co. advised Oil and Natural Gas Corporation (“buyer”) in relation to the master LNG sale and purchase agreements with Gunvor Singapore Pte. Ltd. and Emirates National Oil Company (Singapore) Pvt. Ltd. (collectively, “sellers”). The agreements were signed on August 7, 2024 and August 9, 2024, with Emirates and Gunvor, respectively.
The MSPAs executed are the first ever MSPAs executed by ONGC and provide impetus to Government of India’s ambition to increase natural gas usage to 15% by 2030. The deals mark a significant step in LNG marketing and strengthen ONGC’s vision of integrating across the energy value chain.
The transaction team was led by Prashant Sirohi, Partner; Varnika Mohan, Principal Associate; Suranjan Shukla, Senior Associate; and Siddharth Jain, Associate.
