Adnoc Gas and Jera sign $450m LNG deal
28 January 2025
Adnoc Gas, the natural gas processing and exporting subsidiary of Abu Dhabi National Oil Company (Adnoc Group), and its subsidiaries have announced the signing of a AED1.653bn ($450m) three-year liquefied natural gas (LNG) supply agreement with Jera Global Markets, a trading subsidiary of Japan’s Jera Company Incorporated.
The LNG will be supplied from Adnoc Gas’ Das Island liquefaction facility, which has a production capacity of approximately 6 million tonnes a year.
In a statement, Adnoc Gas said the agreement reaffirms the company's position as a "reliable global supplier of clean energy" while supporting Japan's energy requirements.
Fatema Al-Nuaimi, CEO of Adnoc Gas, said the agreement builds on the robust UAE-Japan energy relationship and decades of collaboration between Adnoc Gas and Jera.
"We will continue to support Japan’s energy needs and reinforce our position as a reliable partner in the global LNG market," she added.
Kazunori Kasai, chief optimisation officer of Jera Company and chairman of Jera Global Markets, noted that the new supply agreement with Adnoc Gas reflects the "active measures we take to ensure that our global portfolio remains diverse, flexible and competitive".
In October 2023, Adnoc Gas also won an order for LNG supply from Jera Global Markets.
The value of the multi-year LNG supply contract was between $500m and $700m, Adnoc Group said at the time. The company did not specify the duration of the agreement or the volume of LNG that Adnoc Gas will supply each year.
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In a statement, Alpha Dhabi said the transaction strengthens NCTH’s position and Alpha Dhabi Holding’s investment in the domestic and international luxury hospitality sector.
The deal involves the transfer of four key hotel assets, including two in Abu Dhabi – the St Regis Saadiyat Island Resort and Al-Wathba, a Luxury Collection Desert Resort & Spa. The other two hotels are the Cheval Blanc Randheli in the Maldives and the Cheval Blanc Seychelles.
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In May 2023, Alpha Dhabi Holding said it had a 36.4% shareholding in NCTH. The share acquisition was executed via a purchase from an existing shareholder for a total consideration of AED730m ($199m).
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The start of construction will follow the issuance of a limited notice to proceed by the developer team to the EPC contractors, comprising a team of China’s Sepco 3 and South Korea’s Doosan Enerbility.
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A consortium comprising Saudi Electricity Company (SEC), Riyadh-based utility developer Acwa Power and South Korea’s Korea Electric Power Corporation (Kepco) won the contract to develop the two CCGT IPPs.
The developer consortium signed the power-purchase agreements (PPAs) for the two projects with the principal buyer, Saudi Power Procurement Company (SPPC), in November last year.
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State utility Dubai Electricity & Water Authority (Dewa) is understood to have selected a transaction advisory team for the next phase of Dubai’s Mohammed Bin Rashid Al-Maktoum (MBR) Solar Park.
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Source: Dewa
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