ADNOC Gas has signed a $450 million deal to supply LNG to Japan’s JERA Global Markets
ADNOC Gas has signed a three-year deal to supply liquefied natural gas (LNG) worth $450 million (AED 1.7 billion) with JERA Global Markets from Japan.
LNG Supply Deal
ADNOC Gas will supply LNG from its Das Island facility, which can produce six million tons of LNG per year. This was announced in a company statement on Monday.
ADNOC Gas CEO Fatema Al Nuaimi said, “This agreement strengthens the strong energy ties between the UAE and Japan, based on years of working together with JERA. It shows our commitment to energy security and a cleaner energy future.” She added, “We will continue to support Japan’s energy needs and remain a trusted partner in the global LNG market.”
Das Island is the world’s third-longest operating LNG plant, having shipped over 3,500 LNG cargoes since it started. The deal also supports the goal of using LNG for a more sustainable energy future, as LNG plays a key role in the global energy transition.
ADNOC Gas has been supplying LNG to Japan for 48 years, and this new agreement follows a similar deal made in 2023.
Recent LNG Agreements
In November, ADNOC Gas signed a 10-year deal with India’s GAIL to supply 520,000 metric tons of LNG per year starting in 2026. The LNG will come from ADNOC Gas’ Das Island facility.
In August, ADNOC signed an agreement with Osaka Gas to provide 800,000 tons of LNG per year from its Ruwais LNG project, which is being built in Abu Dhabi.
ADNOC Gas expects to buy a 60% stake in the Ruwais LNG project from ADNOC in 2028 when it starts production. This plant will be the first LNG facility in the Middle East and Africa to run on clean electricity from the grid.
Third-Quarter Results
ADNOC Gas, which supplies 60% of the UAE’s gas, reported an 11% increase in its third-quarter net profit, reaching $1.24 billion, due to higher revenue. Its revenue for the third quarter of 2024 was $6.3 billion, up from $5.8 billion the previous year, driven by higher product prices despite lower domestic sales.
Published: 28th January 2025
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