ADNOC Gas, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), has signed a liquified natural gas (LNG) supply agreement with PetroChina International Company valued between $450m and $550m.
Ahmed Mohamed Alebri, CEO of ADNOC Gas, said the agreement strengthens the company’s presence in the Chinese market.
“China continues to be a key market for ADNOC Gas, and this agreement further reinforces our role as a major LNG supplier across East and South Asia, and beyond,” he added.
ADNOC’s LNG facilities are located on Das Island, an oil and gas operations hub that plays a major role in ADNOC’s upstream production operations.
The Das Island facility is believed to be the third-longest-established LNG operation still in production globally. ADNOC operates three LNG trains that treat and super-cool natural gas, reducing its temperature to below -160°C, liquefying it and making it ready for loading onto a fleet of LNG tankers.
LNG is shipped to customers around the globe who operate regasification facilities, converting the LNG back into gas that is used to generate power and supply end customers.
Wu Junli, Chairman of PetroChina, defines energy as an important area of collaboration between China and the UAE.
He added, “This agreement signifies an extension of the cooperation between our two companies and reaffirms PetroChina’s commitment to ADNOC Gas as our global partner.”
The deal follows several other international LNG sales agreements, including those with Japan Petroleum Exploration, TotalEnergies Gas and Power, and India Oil Corporation.
Read more: ADNOC Gas signs $7bn-9bn LNG supply deal with Indian Oil
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