Long-term agreement for delivery of 1 mtpa of LNG reinforces UAE-Japan energy cooperation
ADNOC has announced today the signing of a 15-year Sales and Purchase Agreement (SPA) with INPEX Corporation, Japan’s largest exploration and production (E&P) company, for the supply of 1mn tonnes per annum (mtpa) of liquefied natural gas (LNG) from the Ruwais LNG project.
The agreement was announced during a visit to Japan by HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, and Executive Chairman of XRG, where he is leading a delegation for meetings with senior Japanese government and business leaders.
Loer-carbon supply
“As ADNOC and XRG target 47 mtpa of combined marketable LNG by 2035, Ruwais LNG will be a key source of reliable, flexible and lower-carbon supply for customers in Asia and around the world,” stated Nasser Al Muhairi, Acting CEO of ADNOC Downstream Industry, Marketing & Trading, and Chairman of Ruwais LNG
The SPA marks another milestone in ADNOC’s global LNG expansion strategy and reinforcing the company’s position as a leading global supplier of lower-carbon LNG.
ADNOC Gas announced in November 2024 that it expects to acquire ADNOC’s 60% stake in the Ruwais LNG project at cost, estimated at around US$ 5bn, in 2028. Upon completion, the project, comprising two 4.8 mtpa liquefaction trains with a combined capacity of 9.6 mtpa, will more than double ADNOC Gas’ existing operated LNG production capacity to around 15 mtpa.
