Adnoc Gas seals $400m LNG supply deal with German group
ABU DHABI, 1 days ago
Adnoc Gas and its subsidiaries announced today (July 10) that it has entered into a three-year liquefied natural gas (LNG) supply agreement with Germany’s Sefe Securing Energy for Europe, for the delivery of 0.7 million tonnes of LNG with deliveries commencing this year.
The agreement, valued at AED1.5 billion ($400 million) over its three-year term, highlights Adnoc Gas' continued expansion into global markets, with LNG supplied from its Das Island liquefaction facility - a key asset in the company’s portfolio.
With a production capacity of 6 mtpa, Das Island’s LNG plant has shipped over 3,500 LNG cargoes worldwide since starting operations in 1977, strengthening Adnoc Gas’ long-term relationships with key global energy partners.
On the strategic deal, CEO Fatema Al Nuaimi said: "This agreement marks a significant step in strengthening our long-standing partnership with SEFE and reinforces Adnoc Gas’ role as a reliable and responsible global energy provider, committed to supporting Germany’s energy security."
"It also reflects the strong progress we are making in delivering our strategic objectives and demonstrates the confidence our partners, investors, and stakeholders place in our ability to create long-term value in a dynamic energy landscape," he stated.
The agreement builds on the ongoing strategic collaboration between the UAE and Germany, including the 2022 Energy Security and Industry Accelerator (ESIA) pact and the 2024 Joint Declaration with the state of Baden-Württemberg, both aimed at fostering energy security and sustainable fuel development.
Frédéric Barnaud, Chief Commercial Officer of Sefe, said: "Over the past two decades, we’ve built a strong partnership with Adnoc, and we value our relationship with such a reputable and reliable supplier."
Sefe, he stated, is committed to ensuring energy security across Germany and Europe by expanding its international portfolio and strengthening its global partnerships.
As part of this commitment, the group collaborates with leading LNG and natural gas producers around the world to ensure diversified and reliable energy sources for Germany and beyond.
"This new medium-term LNG contract builds on the long-term supply agreement with Adnoc that we signed last year, thereby adding another flexible source of LNG to our portfolio – to the benefit of both Europe’s security of supply and our global market trading activities," he added.
Adnoc Gas is a key player in Adnoc’s strategy to enhance its natural gas production capacity and expand global LNG exports.
As a crucial transitional fuel, natural gas offers lower carbon emissions compared to other fossil fuels and serves as an important raw material in industrial value chains.-TradeArabia News Service
