ADNOC Gas Signs $450-550 Million LNG Supply Agreement with PetroChina

Source: www.gulfoilandgas.com 9/7/2023, Location: Middle East

ADNOC Gas plc (“ADNOC Gas” or the “Company”), a world-class integrated gas processing company, today announced an agreement, valued between $450 million (AED1.65 billion) and $550 million (AED2 billion), to supply Liquefied Natural Gas (LNG) to PetroChina International Company Limited (“PetroChina” or “PCI”), a subsidiary of PetroChina Company Limited, one of the leading oil and gas producers and distributors in China.

This agreement underscores ADNOC Gas’ growing global presence, particularly in the East and South Asian markets. Natural gas plays a crucial role as a transitional fuel, generating lower-carbon emissions compared to other fossil fuels, and ADNOC Gas is committed to ensuring reliable supply to its customers around the world.

Ahmed Mohamed Alebri, Chief Executive Officer of ADNOC Gas, said: “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. 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.”

LNG serves as an important raw material in industrial value chains and its versatility allows its application across a broad range of industries, fostering economic growth.

Commenting on the agreement, Wu Junli, Chairman of PCI, 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 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.”

This agreement follows several significant international LNG sales agreements, including those with Japan Petroleum Exploration Co., Ltd. (JAPEX), TotalEnergies Gas and Power, and India Oil Corporation (IOCL), underscoring ADNOC Gas’ position as a global export partner of choice.

ADNOC Gas continues to leverage opportunities arising from ADNOC’s integrated gas masterplan, which links every part of the gas value chain in the UAE, ensuring a sustainable and economic supply of natural gas to meet local and international demand.


Malaysia >>  10/31/2024 - PETRONAS wishes to clarify that it is still in discussions with Petros on the proposed implementation of the Distribution of Gas Ordinance (DGO).
<...

China >>  10/30/2024 -  China Petroleum Network News (Reporter Huang Wei, Zhang Lili) As of the end of October, Jilin Sales has built and put into operation 7 LNG filling st...

United States >>  10/30/2024 - Vision RNG, in collaboration with Laurel Ridge Landfill, L.L.C., a subsidiary of Waste Connections, Inc., and Delta Gas, proudly announces the start o...
United States >>  10/30/2024 - DTE Energy, Michigan’s largest energy provider, is ranked "#1 in Customer Satisfaction with Business Natural Gas Service in the Midwest" in the J.D. P...

United States >>  10/30/2024 - Coterra will supply 100,000 MMbtu/d of natural gas for a period of 10 years, commencing in 2028.

Volume supplied sufficient to heat 400,000...

China >>  10/29/2024 - China Petroleum Network News (Reporter Li Yannan) On the morning of October 28, the Group held a mobilization meeting for the winter supply of natural...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.