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Thursday, April 18, 2024

Adnoc Gas Inks 5-Year LNG Supply Deal with Japex

Adnoc Gas, a leading integrated gas processing company, has announced a five-year agreement for liquefied natural gas (LNG) supply with Japan Petroleum Exploration Co, Ltd (Japex), an energy firm based in Japan.

The agreement, valued between $450 million (AED 1.65 billion) and $550 million (AED 2 billion), strengthens the UAE-Japan bilateral relationship and underscores Adnoc’s commitment to productive partnerships with Japanese energy companies.

Ahmed Alebri, CEO of Adnoc Gas, stated, “Japan is a significant energy partner for the UAE, and we are pleased to enhance our ties through this LNG supply deal with Japex.

This agreement reinforces our role as a global LNG export partner and underscores our growing presence in the Asian LNG market.”

Natural gas plays a crucial role in reducing carbon emissions as a transitional fuel and serves as a vital raw material in various industrial value chains.

Adnoc Gas capitalizes on opportunities arising from Adnoc’s integrated gas masterplan, connecting every aspect of the gas value chain in the UAE.

This approach ensures a sustainable and economically viable natural gas supply to meet both local and global demand.

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