Value of agreement in the range of US$ 1 to 1.2 bn under current market conditions
ADNOC Gas recently announced a three-year supply agreement with the French multi-energy company TotalEnergies Gas and Power Limited a subsidiary of TotalEnergies, a French multinational energy company, for the export of liquefied natural gas (LNG).
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, representing another important milestone as ADNOC Gas expands its global reach.
Under the terms of the agreement, through its subsidiary, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world. The agreement demonstrates ADNOC Gas’ ability to meet growing global demand for LNG, a critical energy transition fuel, a press communique indicated.
“We look forward to continuing our long-term strategic partnership with TotalEnergies, building on our shared commitment to sustainability and the energy transition,” commented Ahmed Alebri, CEO, ADNOC Gas.
“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.” Remarked Thomas Maurisse, SVP LNG, 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.