Abu Dhabi's ADNOC Gas will sell up to 1.6 million tonnes of liquefied natural gas to TotalEnergies over five years, as ADNOC sets up a global LNG trading platform targeting 47 million tonnes a year of marketable LNG beyond 2030.
ADNOC Gas and its subsidiaries have signed a five year agreement to supply TotalEnergies with up to 1.6 million tonnes of liquefied natural gas. The value and start date were not disclosed.
ADNOC Gas chief executive Fatema Al Nuaimi said global LNG demand continues to grow and the company is well positioned to capture that opportunity, while Stéphane Michel, President Gas, Renewables and Power at TotalEnergies, said the new supply would help confirm the French group as one of the main LNG portfolio suppliers. The deal builds on a long-standing partnership between the two companies.
It comes as ADNOC launches a global LNG marketing and trading platform that combines the LNG marketing of ADNOC Gas and XRG with its trading arm ADNOC Trading, targeting 47 million tonnes a year of marketable LNG beyond 2030. The future integration of Ruwais LNG is expected to lift production capacity significantly.
Source: Gulf Today
