ADNOC Gas signs multi-million dollar LNG supply deal with Japex

ADNOC Gas signs multi-million dollar LNG supply deal with Japex

Image courtesy: WAM

UAE’s ADNOC Gas has signed a five-year liquefied natural gas (LNG) supply agreement with Japan Petroleum Exploration Company (Japex).

The deal, which is valued between $450m (Dhs1.65bn) and $550m (Dhs2bn), builds on the bilateral relationship between the UAE and Japan, ADNOC Gas said in a bourse filing. It follows Japanese Prime Minister Fumio Kishida’s visit to the UAE and other GCC states in July, which focused on securing energy supplies for Japan.

“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,” said Ahmed Alebri, CEO of ADNOC Gas.

“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.”

ADNOC’s 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 Gas’ LNG deals

ADNOC Gas intends to more than double its LNG production capacity to meet increased global demand for natural gas. The company’s agreement with Japex follows LNG supply agreements with TotalEnergies Gas and Power and