(MENAFN- Mid-East.Info) LNG Supply Agreement valued at between $450-550 million reinforces ADNOC Gas' position as a global LNG export partner of choice.
Agreement builds on the long-standing energy partnership between the UAE and Japan, and underscores 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.
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.
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.
About ADNOC Gas:
ADNOC Gas, listed on the ADX (ADX symbol:“ADNOCGAS” / ISIN:“AEE01195A234”), is a world-class, large-scale integrated gas processing company operating across the gas value chain, from receipt of raw gas feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers. ADNOC Gas supplies approximately 60% of the UAE's sales gas needs and supplies end-customers in over 20 countries.
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