ADNOC Gas lands $500m-$700m LNG deal to supply Japan's Jera Global Markets
Multi-year contract builds on UAE energy firm's exposure to Jera Co.
Dubai: The ADX-listed ADNOC Gas has landed a multi-year LNG supply contract valued between $500 million to $700 million from Jera Global Markets of Japan. The deal obviously builds on Japan’s higher offtake of its energy requirements from the UAE.
In fact, ADNOC Gas has had ties with Jera Co. – the holding company for Jera Global Markets - for some time now. “This LNG supply agreement marks a significant milestone, demonstrating our continuous and shared commitment for advancing sustainability in the energy sector and supporting a reliable and cleaner energy future for Japan and beyond,” said Ahmed Alebri, CEO of ADNOC Gas.
A long-standing supply-side relation
ADNOC’s LNG production facilities on Das Island - built in the 1970s - had been supplying to the Tokyo Electric Power Company (one of the parent companies of JERA Co., Inc.) for 40 years and more. The latest supply agreement with Jera Global Markets 'renews and enhances the partnership'.
Asia offtake
ADNOC Gas has strung together a raft of LNG sales deals recently, including with PetroChina International Co., Japan Petroleum Exploration Co. (Japex), TotalEnergies Gas and Power, and India Oil Corporation. The total value of LNG supply contracys signed since the Abu Dhabi company's March listing on ADX is valued between Dh34.5 billion to Dh44 billion.
More to follow...