ADNOC Gas signs 5-year LNG supply deal with JAPEX

ADNOC Gas, a unit of UAE's ADNOC, on August 17 announced a five-year LNG supply agreement with Japan Petroleum Exploration Co. (JAPEX). The deal has been valued at $450mn and $550mn. ADNOC Gas did not provide the LNG volumes or timing for when the shipments will commence. 

“Japan stands as one of the UAE's vital and sizable energy collaborators, and we are delighted to enhance this collaboration through the LNG supply agreement with JAPEX. This agreement not only reaffirms ADNOC Gas as a preferred global partner for LNG exports but also emphasizes the Company's expanding global footprint, particularly within the Asian LNG market,” Ahmed Alebri, CEO of ADNOC Gas, said.

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.

ADNOC Gas last month signed a 14-year supply agreement with India's state-run Indian Oil Corporation to export up to 1.2mn tonnes/year of LNG. The deal is valued between $7bn and $9bn.