ADNOC Gas plc, the global gas processing company, announced yesterday the signing of a 5-year LNG supply agreement with Japan Oil Exploration Company Limited (JAPEX).
The agreement, worth between AED 1.65 billion ($450 million) and AED 2 billion ($550 million), builds on the longstanding bilateral relations between the UAE and Japan, and ADNOC’s track record of strengthening strategic partnerships with Japanese energy companies.
On this occasion, Ahmed Al-Abri, CEO of ADNOC Gas, said: “Japan is one of the most important and largest partners of the UAE in the field of energy, and we are pleased to contribute to strengthening this relationship by concluding an agreement with the Japan Oil Exploration Company Limited (Japex), where it is firmly established This step established us as a preferred global partner for the supply of liquefied natural gas, and confirms the growing presence of ADNOC Gas in global markets, and in particular the Asian market.”
Natural gas plays a pivotal role as a transition fuel due to its low carbon emissions compared to other fossil fuels. It is also an important source of raw materials for industrial value chains.
ADNOC Gas will continue to benefit from the opportunities offered by ADNOC’s integrated master plan for gas, which aims to link the components of the gas value chain in the UAE to ensure the provision of sustainable and economic supplies of natural gas to meet the growing demand in the local and global markets.
2023-08-17 15:15:28
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