ADNOC Gas announces $450-$550m LNG supply deal with PetroChina subsidiary
ADNOC Gas plc, a significant player in integrated gas processing, has finalized an agreement to supply Liquefied Natural Gas (LNG) to PetroChina International Company Limited, a subsidiary of PetroChina Company Limited, one of China’s foremost oil and gas producers. The contract is valued between $450 million (AED1.65 billion) and $550 million (AED2 billion).
Growing Global Presence of ADNOC Gas
This deal marks a notable expansion of ADNOC Gas in the global energy market, particularly in East and South Asia. The company aims to fulfill its role as a transitional fuel supplier by reducing carbon emissions compared to other fossil fuels. Ahmed Mohamed Alebri, CEO of ADNOC Gas, emphasized, “We are pleased to sign this LNG supply agreement with PCI, further strengthening our presence in one of the world’s fastest growing gas markets.”
Landmark LNG deal between ADNOC Gas and PetroChina worth up to $550m. Photo courtesy of ADNOC Gas.
LNG’s Versatile Role in Industrial Value Chains
LNG serves as a valuable raw material for multiple industries, thereby promoting economic growth. Wu Junli, Chairman of PCI, noted, “Energy is an important area of collaboration between China and the UAE. This agreement signifies an extension of the cooperation between our two companies and reaffirms PCI’s commitment to ADNOC Gas as our global partner.”
Continuation of International Agreements
The deal with PetroChina follows other major international LNG sales agreements ADNOC Gas has entered into recently, including partnerships with Japan Petroleum Exploration Co., Ltd. (JAPEX), TotalEnergies Gas and Power, and India Oil Corporation (IOCL). These collaborations further validate ADNOC Gas’s standing as a reliable global export partner.
Strategic Integration within the UAE
ADNOC Gas continues to capitalize on opportunities through its integrated gas masterplan within the UAE. This comprehensive strategy links all elements of the gas value chain in the country, thereby ensuring a stable and economic supply of natural gas for both local and international markets.