Adnoc Gas Inks $550 Million LNG Supply Deal with Japex
08.17.2023 By Tank Terminals - NEWS

August 17, 2023 [LNG Prime]- Adnoc’s new gas and LNG unit, Adnoc Gas, has signed a five-year deal to supply liquefied natural gas to Japan Petroleum Exploration (Japex).

 

Adnoc Gas said in a statement on Thursday the LNG supply deal is worth between $450 million and $550 million.

The firm did not provide any additional information regarding the agreement.

“Japan is one of the UAE’s largest and most important energy partners and we are very
pleased to strengthen this relationship through this LNG supply agreement with Japex,” Ahmed Alebri, CEO of Adnoc Gas, said in the statement.

“The agreement reinforces Adnoc Gas’ position as a global LNG export partner of choice and highlights the company’s growing global presence, particularly in the Asian LNG market,” Alebri said.

Adnoc launched Adnoc Gas on January 1 as it looks to further expand its international presence.

Earlier this year, Adnoc Gas signed a three-year LNG supply deal with a unit of France’s TotalEnergies worth up to $1.2 billion.

After that, the firm signed a long-term deal worth up to $9 billion to supply LNG to India’s top state oil refiner Indian Oil.

Adnoc owns a 70 percent stake in Adnoc LNG, that currently produces about 6 mtpa of LNG from its facilities on Das Island.

Besides this terminal, Adnoc is also working on the second LNG export plant in Al Ruwais.

According to Adnoc, the LNG terminal would have two 4.8 mtpa LNG trains, boosting the company’s LNG production capacity by 9.6 Mtpa, as it looks to respond to the growing global demand for natural gas.

 

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