ADNOC Trading, TotalEnergies, Chevron poised to win Indian LPG term tender for 2027, traders say

What happened

Indian state-owned LPG importers are likely to award a joint tender for about 2.75 million metric tons of liquefied petroleum gas for 2027 delivery to ADNOC Trading, TotalEnergies Trading and Chevron, two market participants said.

Confirmed

Global impact / market context

The award would lock in large 2027 LPG supply for Indian Oil, Bharat Petroleum and Hindustan Petroleum, which means those refiners gain delivery certainty, while winning traders gain recurring sales volume and the losing bidders lose that revenue.

Analyst inference

About a dozen bids showed strong supplier interest in Indian LPG demand. The oil minister said India buys 67% of its LPG imports from the US, so shifting term volumes toward ADNOC, TotalEnergies and Chevron would change who supplies India.

Analyst inference

What to watch

1. Watch whether the state-owned importers formally award the tender to ADNOC Trading, TotalEnergies Trading and Chevron, since the report relies on two market participants and not on company confirmation. Confirmed
2. Track the share of India's LPG imports coming from the US versus the proposed term suppliers, because a shift in that split changes revenue for existing US sellers and shipping needs. Analyst inference
3. Monitor Indian Oil, Bharat Petroleum and Hindustan Petroleum on how much LPG they secure under term contracts versus spot purchases, which affects their cost planning and supply security. Analyst inference

Evidence

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