50.24$US/1 Barrel
58.30$US/1 Barrel
53.70$US/1 Barrel
70.77$US/1 Barrel
75.61$US/1 Barrel
75.71$US/1 Barrel
77.66$US/1 Barrel
68.98$US/1 Barrel
68.83$US/1 Barrel
67.03$US/1 Barrel
51.81$US/1 Barrel
57.57$US/1 Barrel
55.28$US/1 Barrel
62.57$US/1 Barrel
64.72$US/1 Barrel
60.50$US/1 Barrel
62.00$US/1 Barrel
54.25$US/1 Barrel
59.25$US/1 Barrel
60.75$US/1 Barrel
485.00$US/MT
378.00$US/MT
705.00$US/MT
585.00$US/MT
508.00$US/MT
467.00$US/MT
368.00$US/MT
395.25$US/MT
678.00$US/MT
832.75$US/MT
SEATTLE (Oil Monster): The state-owned Abu Dhabi National Oil Company (ADNOC) announced that it has entered into a 15-year liquefied natural gas (LNG) supply deal with the Singaporean subsidiary of Chinese ENN Natural Gas.
The agreement is towards supply of at least a million metric tonnes of LNG per year over the contract period. It is contingent upon a final investment decision (FID) on the project, including regulatory approvals.
The LNG for supply will be mainly sourced from ADNOC’s Ruwais LNG project in Abu Dhabi, which is expected to commence commercial operations by end-2027. The deliveries are expected to start in 2028, ADNOC noted.
The Ruwais plant is touted as the first LNG project in the Mena region to run on clean power. The plant comprises of two natural gas liquefaction trains, having a total capacity of 9.6 million metric tonnes per annum. Upon completion, the project is expected to more than double ADNOC’s production capacity.
Rashid Al Mazrouei, Adnoc's senior vice president of marketing stated that the landmark LNG agreement will enhance ADNOC’s position as a reliable and responsible global energy provider. Furthermore, it will create new opportunities for value-creation across its gas value chain.