India's LNG Buyers and Engineering Firms Eye MSGBC Energy Opportunities
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India signed more long-term LNG contracts than any other country in 2025 while its state-owned engineering firms are managing some of West Africa's largest downstream builds. Both trends lead toward the MSGBC basin, where the next gas and refining projects will need both buyers and delivery partners. MSGBC Oil, Gas & Power 2026, taking place in Dakar this December, gives Indian companies direct access to the governments and national oil companies setting the terms.
India imports about half of the gas it consumes, and its buyers are moving more of their purchasing onto long-term contracts. Indian companies contracted 8.4 million tons per annum (mtpa) of long-term LNG in 2025, led by India Oil Corporation with 4.7 mtpa, according to the International Group of LNG Importers (GIIGNL). S&P Global Commodity Insights expects the gap between India's contracted supply and its projected requirements to widen significantly after 2028.
Rising Indian LNG demand coincides with efforts by MSGBC nations to attract upstream investment and expand LNG production. Senegal and Mauritania, which began exporting LNG in 2025, are currently working to strengthen output following the start of the Greater Tortue Ahmeyim (GTA) LNG project. As partners in the GTA development, both countries are evaluating a second phase of 2.5 to 3 mtpa, with sanction tied to new long-term sales agreements. Indian refiners are also buying more from the region, raising West African crude purchases in October, according to early Kpler tanker data. Record freight rates on the West Africa-China route have lowered prices for MSGBC grades, further incentivizing long-distance trade deals.
Indian firms are becoming more globally active in EPC work, with two firms helping to build Senegal's high-voltage grid. Kalpataru Power Transmission and KEC International have won turnkey contracts for 225 kV transmission lines and substations in the country, with Kalpataru's project financed by the Export-Import Bank of India (Exim Bank). Exim Bank has also extended power-sector credit lines to Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry, funding rural electrification, grid expansion around Banjul and various solar projects.
Indian state oil companies have also historically pursued MSGBC acreage. ONGC Videsh, the overseas arm of India's Oil and Natural Gas Corporation, agreed in 2020 to buy a 13.67% stake in Senegal's Sangomar development for $45 million, before operator Woodside exercised its pre-emption rights and took the interest itself. With Petrosen estimating that less than 10% of the MSGBC basin has been explored, the region still offers entry points for Indian companies seeking overseas reserves. MSGBC Oil, Gas & Power 2026 will launch the MSGBC Data Room on Day 2, giving prospective partners direct access to exploration block data and upcoming licensing information.
At the upcoming event, the Project Partnership Exchange will connect developers presenting upcoming procurement needs with suppliers, service providers and investors, while the Day 2 panel on Financing Energy Infrastructure Around the MSGBC Basin brings export credit agencies alongside development finance institutions. With GTA's second phase in evaluation, the offtake and delivery agreements reached with international partners in Dakar will help shape the basin's next investment cycle.
Organized by Energy Capital & Power and held under the High Patronage of Senegalese President Bassirou Diomaye Faye, MSGBC Oil, Gas & Power 2026 takes place December 1–3 in Dakar and will convene heads of state, ministers, investors, operators and development partners from Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry. Explore opportunities and secure your participation at www.msgbcoilgasandpower.com.