Adnoc LNG Strikes Supply Deals with BP, Total

The UAE’s Adnoc LNG has struck supply deals with BP and Total, booking out the majority of its LNG production until the first quarter of 2022, it said in a November 12 statement.

The owner of the 6mn mt/yr Das Island LNG terminal described the deals as “milestones” in its drive to diversify its customer base. Back in April, the company supplied 90% of its LNG to a single utility in Japan, but now sells 90% of its shipments to customers and receiving terminals in more than eight countries in Asia, including India, China, South Korea and Taiwan.

“With these new supply agreements, Adnoc LNG has shown that it can react quickly and decisively to changing market conditions while ensuring the security and quality of delivery,” company CEO Fatema Al Nuaimi commented. “With the support of our shareholders, we have maximised access to new markets with strong LNG growth potential.”

Adnoc LNG is 70% owned by the UAE’s national oil company Adnoc, while Japan’s Mitsui & Co has 15%, BP 10% and Total 5%.