Chinese energy companies sign LNG deals with Adnoc

• Adnoc to supply ENN with 1m tonnes per year
• Zhenhua Oil will receive 12 cargoes a year
• New Adnoc office in Beijing

China’s privately controlled ENN Natural Gas and state-run Zhenhua Oil have each signed deals to buy liquefied natural gas from Abu Dhabi National Oil Company (Adnoc).

ENN Natural Gas said on its official WeChat account on Saturday that the deal covers annual supplies of about 1 million metric tonnes for 15 years, marking Adnoc’s largest LNG contract with a Chinese buyer.

“The deal marks a key step for ENN towards enhancing a stable energy supply chain and diversifying supplies,” ENN said.

Shanghai-listed ENN Natural Gas, which holds a 34 percent stake in Hong Kong-listed ENN Energy, is proposing to buy out the rest of the clean energy distributor for $7.65 billion.

Two years ago Adnoc signed a 15-year agreement with ENN LNG (Singapore) Pte, a wholly-owned subsidiary of China’s ENN Natural Gas Company, for the delivery of at least 1 million metric tonnes per annum LNG.

Separately, state oil and gas trader Zhenhua Oil agreed a 5-year deal with Adnoc starting in 2026 for up to 12 cargoes a year, said a Chinese industry source.

Under Zhenhua’s first long-term LNG contract, pricing is on a delivered basis into Rudong in east China’s Jiangsu province, with some shipments benchmarked to the Japan Korea Marker and others to Brent oil, said the source.

Zhenhua Oil, which already partners with Adnoc in Abu Dhabi, is building its first LNG terminal in Rudong, with commissioning expected in the first quarter of 2026.

Adnoc CEO Sultan Al Jaber attended the opening of the company’s new Beijing office on Friday, according to the source, who attended the ceremony, and a report by China-Arab TV.

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The report said Adnoc signed three LNG supply deals with Chinese partners during Al Jaber’s visit, without giving further details.

Zhenhua Oil and Adnoc were not immediately available for comment over the weekend