Skip to content Skip to Search
Skip navigation

Adnoc Gas signs 5-year LNG supply pact with Japex

By Pramod Kumar
The Adnoc Gas LNG supply agreement with Japan is valued at between $500m-$700m Adnoc Gas
The Adnoc Gas LNG supply agreement with Japan is valued at between $500m-$700m

Adnoc Gas, a subsidiary of Abu Dhabi National Oil Company (Adnoc), has signed a five-year liquefied natural gas (LNG) supply agreement with Japan Petroleum Exploration Co Ltd (Japex).

The agreement is valued between $450-$550 million (AED1.65-2 billion), the company said in a filing published on the Abu Dhabi Securities Exchange on Thursday.

Ahmed Alebri, CEO of Adnoc Gas, said: “Japan is one of the UAE’s largest and most important energy partners. The agreement reinforces our position as a global LNG export partner of choice and highlights the company’s growing global presence, particularly in the Asian LNG market.”

Trade between Japan and the GCC members stood at around $80 billion in 2021, with Saudi Arabia and the UAE making up around 80 percent of the total. The relationship is growing rapidly: in 2022 Japan’s trade with the UAE and Saudi Arabia alone topped $100 billion.

The UAE has the largest number of Japanese expatriates in the Middle East at approximately 4,500 and hosts about 340 Japanese companies.

Natural gas plays a crucial role as a transitional fuel with lower carbon emissions than other fossil fuels. It also serves as an essential raw material in industrial value chains.

Earlier this month, Adnoc Gas awarded a $3.6 billion (AED13.1 billion) contract to the joint venture between Abu Dhabi-based National Petroleum Construction Company and Spain’s Tecnicas Reunidas SA to expand its gas processing infrastructure in the UAE.

The Abu Dhabi-listed company reported a net income of AED2.25 billion for the first half of 2023, down 12 percent from AED2.55 billion a year earlier.

Adnoc Gas in July signed a 14-year supply agreement with India’s state-owned energy firm Indian Oil Corporation Limited.

The deal involves the export of up to 1.2 million metric tonnes per annum of liquefied natural gas valued at $7 billion to $9 billion.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]