Abu Dhabi: ADNOC Gas has announced a three-year supply agreement with French multi-energy company TotalEnergies Gas and Power, a subsidiary of TotalEnergies, for the export of liquefied natural gas (LNG).
The value of agreement is expected to be in range of $1 to $1.2 billion under current market conditions.
The deal underscores ADNOC Gas’ position as a global LNG export partner of choice and cements TotalEnergies as a key strategic partner for ADNOC Gas in the LNG market.
Commenting on the agreement, Ahmed Alebri, CEO of ADNOC Gas, said: “Our new LNG supply agreement with TotalEnergies represents another significant milestone in our strategy to expand our global reach and strengthens our position as the LNG export partner of choice for leading global energy businesses. This agreement reflects our commitment to meeting the needs of our customers by offering supply security, price competitiveness, and flexibility. We look forward to continuing our long-term strategic partnership with TotalEnergies, building on our shared commitment to sustainability and the energy transition.”
TotalEnergies has a longstanding presence in the UAE, having operated in the country for more than 80 years.
“We are pleased to have signed this three-year contract with our long-standing strategic partner. These additional volumes will strengthen our global LNG portfolio, our ability to supply the growing Asian markets, and our ambition to accompany our customers in their energy transition.” said Thomas Maurisse, Senior Vice President LNG at TotalEnergies.
The three-year contract is expected to commence in 2023 and will run through 2025, reinforcing both companies’ positions as key players in the global LNG market.