Adnoc Gas signs $1-$1.2bn LNG deal with TotalEnergies

Adnoc Gas, a unit of UAE’s Adnoc, on May 1 announced a $1-$1.2bn three-year supply agreement with the French multi-energy company TotalEnergies for the supply of LNG. The company did not disclose the volume of LNG that will be supplied.

Under the terms of the agreement, Adnoc Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world. The three-year contract is expected to commence in 2023 and will run through 2025.

“Our new LNG supply agreement with TotalEnergies represents another significant milestone in our strategy to expand our global reach and strengthens our position as the LNG export partner of choice for leading global energy businesses,” Ahmed Alebri, CEO of Adnoc Gas, said.

"We are pleased to have signed this three-year contract with our long-standing strategic partner. These additional volumes will strengthen our global LNG portfolio, our ability to supply the growing Asian markets, and our ambition to accompany our customers in their energy transition.” said Thomas Maurisse, senior vice president LNG at TotalEnergies.

Adnoc had in January announced the formation of Adnoc Gas. It was listed on the Adu Dabhi stock exchange in March. The new entity will undertake processing, operations and marketing of natural gas. It combines the operations, maintenance and marketing of the Adnoc Gas Processing and Adnoc LNG businesses into one consolidated business. 

Adnoc Gas’ LNG facilities are located on Das Island and have a capacity of 6mn metric tons/year. The company is also developing its Fujairah LNG export plant in Fujairah.