ADNOC has signed term deals for the supply of LNG with Chinese buyers ENN Natural Gas and state-owned Zenhua Oil, Reuters reported on Saturday.
Privately owned natural gas company ENN Natural Gas agreed to buy about 1 million tonnes per year for a period of 15 years. The deal represents ADNOC’s largest-ever LNG supply contract with a Chinese buyer, according to the report.
On its part, Zenhua Oil agreed to buy up to 12 LNG cargoes per year for five years. According to Reuters, the cargoes will be priced on a delivered basis into Rudong, Jiangsu province, with some shipments benchmarked to the Japan Korea Marker and others to Brent oil. Deliveries are expected to begin in 2026.
ADNOC is seeking to reinforce its position as a supplier of LNG to global markets and has been signing long-term supply deals with international buyers across Asia and Europe. In particular, the company has been seeking to commit volumes from its lower-carbon LNG facility under development in Ruwais Industrial City, Abu Dhabi, which is scheduled to start commercial operations in 2028.
Source:theenergyyear.com