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Adnoc signs LNG supply agreement with TotalEnergies

2 May 2023

Abu Dhabi National Oil Company (Adnoc) has announced that its subsidiary, Adnoc Gas, has signed an agreement with TotalEnergies Gas & Power, a subsidiary of France’s TotalEnergies, to supply liquefied natural gas (LNG) for three years.

Under the terms of the agreement, Adnoc Gas will supply TotalEnergies Gas & Power with LNG cargoes, which will, in turn, be delivered to various export markets worldwide.

The deal’s value is estimated to be between $1bn and $1.2bn under current market conditions, Adnoc said in a statement on 1 May.

The three-year contract is expected to commence in 2023 and will run through 2025, Adnoc added.

Earlier this year, Adnoc Gas delivered a shipment of LNG to RWE Aktiengesellschaft (RWE) in Germany, marking the first time an LNG cargo was shipped to the country from the Middle East.

Adnoc Gas produced the LNG at its facility in Abu Dhabi’s Das Island. It reached the Elbehafen floating LNG terminal in Brunsbuttel, Germany, on 15 February.

https://image.digitalinsightresearch.in/uploads/NewsArticle/10803804/main.jpg
Indrajit Sen

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