ADNOC Gas inks LNG supply deal with TotalEnergies

T. Schneider / Shutterstock.com

ADNOC Gas has signed a three-year liquefied natural gas (LNG) supply agreement with a unit of France’s TotalEnergies.

The value of the deal is expected to be in the range of $1 billion to $1.2 billion under current market conditions.

The agreement represents another important milestone as ADNOC Gas expands its global reach and demonstrates its ability to meet growing international demand for LNG, a critical energy transition fuel.

Under the terms of the deal, through its subsidiary, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world.

"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," said Ahmed Alebri, Chief Executive Officer of ADNOC Gas.

TotalEnergies has a longstanding presence in the UAE, having operated in the country for more than 80 years.

"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.

More from Business

Coming Up on Dubai Eye

  • Afternoons with Helen Farmer

    1:00pm - 4:00pm

    Every weekday afternoon, Helen Farmer will help you to navigate the highs and lows of life in the UAE. Stay up to date with what’s happening and where to go.

  • The Debrief

    4:00pm - 7:00pm

    Join Dane & Lucy on Dubai Eye 103.8 for The Debrief from 4pm to 7pm, the perfect way to unwind after a busy day at the office.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Is There Sufficient House Supply In UAE

    Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?

  • Noon's First Female Delivery Driver

    Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!