Abu Dhabi – Mubasher: Integrated gas processing company ADNOC Gas recently announced an agreement with PetroChina International Company Limited, a subsidiary of PetroChina Company Limited, to supply liquefied natural gas (LNG).
The supply deal is valued between $450 million (AED 1.65 billion) and $550 million (AED 2 billion), highlighting ADNOC Gas’ growing global presence, particularly in the East and South Asian markets.
CEO of ADNOC Gas, Ahmed Mohamed Alebri, said: “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. 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.”
Natural gas has an essential role as a transitional fuel that generates lower-carbon emissions compared to other fossil fuels.
Meanwhile, LNG is a key raw material in industrial value chains while its versatility enables industries to apply it, which fosters economic growth.
Chairman of PetroChina International, Wu Junli, said: “Energy is an important area of collaboration between China and the UAE. We are delighted to partner with ADNOC Gas, a company committed to providing stable and reliable energy supply with low-carbon emissions.”
Junli added: “This agreement signifies an extension of the cooperation between our two companies and reaffirms PCI’s commitment to ADNOC Gas as our global partner.”
The LNG supply agreement with PetroChina follows several international LNG sales deals such as those with TotalEnergies Gas and Power and India Oil Corporation (IOCL), as well as Japan Petroleum Exploration Company Limited (JAPEX). The agreements underscore ADNOC Gas’ position as a global export partner of choice.
During the first half (H1) of 2023, the ADX-listed company generated a net income worth AED 2.25 billion and revenues of AED 10.62 billion.
