https://arab.news/9vuqf
RIYADH: ADNOC Gas has signed an agreement to supply liquefied natural gas worth up to 2.5 billion dirhams ($680 million) to a subsidiary of Japan’s power generation company, JERA Co. Inc.
According to a press statement, the multiyear agreement with JERA Global Markets consolidates long-term bilateral relations since Japan is a vital energy partner to the UAE.
It also further strengthens ADNOC Gas’ position as a global partner for the export of LNG and reinforces ADNOC’s record in bolstering strategic partnerships with Japanese energy firms.
“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,” said ADNOC Gas CEO Ahmed Alebri in a statement.
JERA Global Markets Chairman Kazunori Kasai said: “We are pleased to continue our LNG partnership with ADNOC Gas as the JERA Group continuously looks toward strengthening our global LNG portfolio with stable, flexible and competitive LNG supply, which is essential in the energy transition.”
The new agreement follows several significant international LNG sales agreements by ADNOC Gas with various companies, including India Oil Corp., Japan Petroleum Exploration Co. and TotalEnergies Gas and Power.
Last month, the large-scale integrated gas processing company signed a similar agreement, valued between $450 million and $550 million, to supply LNG to PetroChina International Co to ensure reliable supply to its customers.
“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,” Alebri said in a press release released at the time.
In addition to playing a pivotal role as a transitional fuel due to its low carbon emissions compared to other fossil fuels, natural gas is also an essential source of raw materials for industrial value chains.
ADNOC Gas is one of the most significant players in the energy industry globally. The company supplies approximately 60 percent of the UAE’s gas sales needs and end customers in over 20 countries.
It is the subsidiary of Abu Dhabi National Oil Co., one of the world’s largest integrated energy companies.