Dubai: ADNOC Gas has won a deal valued at between Dh1.65 billion and Dh2 billion to supply Liquefied Natural Gas (LNG) to PetroChina International Company, a subsidiary of PetroChina Company Ltd. and one of the leading oil and gas producers and distributors in China.
The win expands upon ADNOC Gas’ global presence, particularly in South Asian end-user markets. Natural gas is crucial as a 'transitional' fuel, by generating lower-carbon emissions compared to other fossil fuels.
“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," said Ahmed Mohamed Alebri, CEO of the Abu Dhabi based entity. "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 is a key raw material across 'industrial value chains' and across industries. "This agreement signifies an extension of the cooperation between our two companies and reaffirms PCI’s commitment to ADNOC Gas as our global partner," said Wu Junli, Chairman of PCI.
The deal, coming at a time when energy prices are back to firming up, adds to multiple international LNG sales agreements for ADNOC Gas, including that struck with Japan Petroleum Exploration Co., TotalEnergies Gas and Power, and India Oil Corporation.