Adnoc Gas, Jera pen $500mn-$700mn LNG pact

Adnoc Gas, a unit of Abu Dhabi-based Adnoc, has signed an LNG supply agreement, valued between $500mn and $700mn, with Jera Global Markets, a subsidiary of Japan’s Jera, it announced on October 17 in a stock exchange filing.

The LNG will be supplied from ADNOC Gas's facilities which are located on Das Island and have a capacity of 6mn tonnes/year. The company did not provide the LNG volumes or timing for when the shipments will commence. 

This agreement follows a number of international LNG sales agreements that Adnoc Gas has recently signed, including agreements with PetroChina, Japan Petroleum Exploration Co., TotalEnergies, and India Oil Corporation (IOCL). The total value of LNG supply agreements signed by the company since its listing in March this year is between $9.4bn and $12bn.

Earlier this year, Adnoc formed Adnoc Gas as a new entity responsible for natural gas processing, operations, and marketing. It brought together the operations, maintenance, and marketing of Adnoc Gas Processing and Adnoc LNG businesses into one consolidated business.

In line with its plans to meet the increasing global demand for natural gas, Adnoc intends to more than double its LNG production capacity through its planned LNG growth project, including the construction of its second LNG facility in Al Ruwais Industrial City, Al Dhafrah.