Oil & Gas Adnoc strikes another LNG deal with Chinese energy major By Reuters April 22, 2025, 7:31 AM Reuters/Issei Kato An LNG carrier. A tariff war with the US has pushed Chinese buyers to resell US-sourced cargoes and secure new supply deals China National Offshore Oil Corporation (Cnooc) has agreed a term deal to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc), according to two Chinese trading sources and a state media report. It is the third supply contract Adnoc has signed with Chinese buyers recently, following the deals over the weekend with ENN Natural Gas and state energy trader Zhenhua Oil. A tariff war with the US has pushed Chinese buyers to resell US-sourced cargoes and secure new supply deals as tit-for-tat tariffs drive up import costs. China imported no US LNG during March, data from Kpler and LSEG show. The US accounted for about 5 percent of China’s LNG last year, Chinese customs data shows. Chinese energy companies sign LNG deals with Adnoc Cnooc’s Gas and Power Group, charged with the state energy company’s gas business, agreed a 5-year deal starting in 2026 for 500,000 metric tonnes of LNG annually, said an industry source who declined to be named. Neither Cnooc or Adnoc immediately responded to a request for comment. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
