International

ADNOC Gas signs 5-year LNG supply agreement with Japan Petroleum Exploration Co. Ltd.

Published on : 2023-08-17

Abu Dhabi, UAE: ADNOC Gas plc (“ADNOC Gas” or the “Company”), a world-class integrated gas processing company, today 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 $450 million (AED1.65 billion) and $550 million (AED 2 billion), builds on the long-standing bilateral relationship between the UAE and Japan and ADNOC’s 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: “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. 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.”

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 Gas’s recently signed LNG supply agreements with TotalEnergies Gas and Power and India Oil Corporation (IOCL), underscoring  ADNOC Gas’ 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 India’s largest integrated and diversified energy company.

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 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 ADNOC’s 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.

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