ADNOC Gas has announced a three-year supply agreement with TotalEnergies Gas and Power, a division of the French multi-energy business TotalEnergies, for the export of liquefied natural gas (LNG).
The value of the transaction is anticipated to range between $1 and $1.2 billion given the status of the market.
The agreement reinforces ADNOC Gas' standing as a preferred global LNG export partner and reaffirms TotalEnergies as its top strategic partner in the LNG market.
Commenting on the agreement, Ahmed Alebri, CEO of ADNOC Gas, said: “Our new LNG supply agreement with TotalEnergies represents another significant milestone in our strategy to expand our global reach and strengthens our position as the LNG export partner of choice for leading global energy businesses. This agreement reflects our commitment to meeting the needs of our customers by offering supply security, price competitiveness, and flexibility. We look forward to continuing our long-term strategic partnership with TotalEnergies, building on our shared commitment to sustainability and the energy transition.”
TotalEnergies has been operating in the UAE for more than 80 years and has a lengthy history there.
“We are pleased to have signed this three-year contract with our long-standing strategic partner. These additional volumes will strengthen our global LNG portfolio, our ability to supply the growing Asian markets, and our ambition to accompany our customers in their energy transition.” said Thomas Maurisse, Senior Vice President LNG at TotalEnergies.
The three-year deal, which is scheduled to begin in 2023 and expire in 2025, will reinforce the positions of both companies as important players in the global LNG market.