ADNOC Gas plc announced a five-year liquefied natural gas (LNG) supply agreement with Japan Petroleum Exploration Co., Ltd. (JAPEX), the Japan-based energy company.
The agreement, valued between USD 450 million (AED1.65 billion) and USD 550 million (AED 2 billion), builds on the long-standing bilateral relationship between the UAE and Japan and ADNOCโs track record of fostering mutually beneficial strategic partnerships with Japanese energy companies.
Commenting on the agreement, Ahmed Alebri, Chief Executive Officer of ADNOC Gas, said: โJapan is one of the UAEโs largest and most important energy partners and we are very pleased to strengthen this relationship through this LNG supply agreement with JAPEX. The agreement reinforces ADNOC Gasโ position as a global LNG export partner of choice and highlights the Companyโs growing global presence, particularly in the Asian LNG market.โ
Natural gas plays a crucial role as a transitional fuel with lower carbon emissions compared to other fossil fuels. It also serves as an important raw material in industrial value chains.
This agreement with JAPEX follows ADNOC Gasโs recently signed LNG supply agreements with TotalEnergies Gas and Power and India Oil Corporation (IOCL), underscoringย ADNOC Gasโ position as a global LNG export partner of choice.
The 3-year TotalEnergies agreement will see LNG delivered to multiple markets around the world, while the 14-year IOCL agreement will enable the export of up to 1.2 million metric tonnes per annum (mmtpa) of LNG to Indiaโs largest integrated and diversified energy company.
ADNOCโs commitment to sustainable international LNG supply is further evidenced through its planned world class low-carbon LNG growth project which will be constructed in Al Ruwais Industrial City, Al Dhafrah, Abu Dhabi. ADNOC intends to more than double its LNG production capacity to meet increased global demand for natural gas.
ADNOC Gas continues to leverage opportunities arising from ADNOCโs integrated gas masterplan which links every part of the gas value chain in the UAE, ensuring a sustainable and economic supply of natural gas to meet local and international demand.
