ADNOC Gas, the natural gas arm of state-owned energy giant Abu Dhabi National Oil Company (ADNOC), has signed a multi-year liquified natural gas (LNG) supply agreement valued between $500 million (AED 1.8 billion) and $700 million (AED 2.5 billion) with JERA Global Markets.
The deal builds on a long-standing relationship between the UAE and Japan, a vital energy partner of the Gulf state, an ADNOC statement said Tuesday.
The agreement with JERA Global, the trading arm of JERA Co, follows several other deals signed by ADNOC Gas for supplying LNG, which include deals with PetroChina International, Petroleum Exploration Co (JAPEX), TotaEnergies Gas and Power, and Indian Oil Corporation.
It also underscores the Abu Dhai-listed company's growing global presence, especially in the Asian LNG market.
According to the company, natural gas, which continues to play a crucial role as a transitional fuel with lower carbon emissions, is an important raw material in industrial value chains.
ADNOC’s LNG production facilities, established in the 1970s on Das Island, supplied LNG to the Tokyo Electric Power Company for over 40 years.
“This LNG supply agreement marks a significant milestone in ADNOC Gas’ long-standing strategic partnership with JERA Co. Inc, demonstrating our continuous and shared commitment to advancing sustainability in the energy sector and supporting a reliable and cleaner energy future for Japan and beyond,” ADNOC Gas CEO Ahmed Alebri said in the statement.
The latest deal brings the total value of LNG supply agreements signed by ADNOC Gas since its March listing, which raised about $2.5 billion through an initial public offering, to be between $9.4 billion and $12 billion, according to the company.
