The agreement, worth between $450m and $550m, follows the company’s recent LNG sales agreements, including those with Japan Petroleum Exploration (JAPEX), TotalEnergies Gas and Power, and India Oil Corporation (IOCL)
ADNOC Gas signs $450-550m LNG supply deal with PetroChina. (Credit: ADNOC Gas)
UAE’s integrated gas processing company ADNOC Gas has signed an LNG supply agreement with PetroChina International (PCI), a subsidiary of Chinese oil and gas firm PetroChina Company.
The agreement, worth between $450m and $550m, supports ADNOC Gas’ growing presence worldwide, specifically in the East and South Asian markets.
It follows several international LNG sales agreements, including those with Japan Petroleum Exploration (JAPEX), TotalEnergies Gas and Power, and India Oil Corporation (IOCL).
ADNOC Gas said that natural gas plays an important role as a transitional fuel, generating lower carbon emissions compared to other fossil fuels.
Also, LNG serves as an important raw material in industries and has several applications across a wide range of industries, supporting economic growth, said the integrated gas company.
ADNOC Gas CEO Ahmed Mohamed Alebri said: “China continues to be a key market for ADNOC Gas, and this agreement further reinforces our role as a major LNG supplier across East and South Asia, and beyond.”
PCI chairman Wu Junli said: “Energy is an important area of collaboration between China and the UAE. We are delighted to partner with ADNOC Gas, a company committed to providing a stable and reliable energy supply with low-carbon emissions.
“This agreement signifies an extension of the cooperation between our two companies and reaffirms PCI’s commitment to ADNOC Gas as our global partner.”
In May this year, ADNOC Gas signed a three-year LNG supply agreement with the French multi-energy company TotalEnergies Gas and Power, a subsidiary of TotalEnergies.
In July, the company signed a 14-year supply agreement with Indian Oil Corporation (IOCL) to export up to 1.2 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG) to India.
In August, ADNOC Gas signed a five-year LNG supply agreement, worth between $450m and $550m, with Japan-based energy company Japan Petroleum Exploration (JAPEX).