SEATTLE (Oil Monster): Adnoc Gas announced that it has entered into an agreement towards supply of liquefied natural gas (LNG) worth $500-$700 million with Jera Global Markets, a trading subsidiary of Japanese power firm Jera.
With this deal, ADNOC Gas has signed LNG supply agreements worth around $9.4 billion and $12 billion since its listing in March this year. The UAE gas processing company had recently entered into supply contracts with PetroChina, Japan Petroleum Exploration, Indian Oil Corporation and TotalEnergies.
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In a statement to securities exchange, Adnoc said that the multi-year agreement will further boost the energy partnership between the UAE and Japan. Furthermore, it noted that the agreement is in line with the company’s previously stated goal of expanding its global presence, especially in the Asian markets.
According to Ahmed Alebri, Chief Executive Officer, ADNOC Gas, the latest supply agreement marks a significant milestone in the company’s long-standing strategic partnership with Jera. It demonstrates ADNOC’s ongoing commitment towards advancing sustainability in energy sector and supporting the cause for reliable and cleaner energy future for Japan, Alebri added.
