ADNOC Gas plc and French multi-energy company TotalEnergies Gas and Power Ltd have recently announced a three-year supply agreement amounts at $1.2 billion to export liquefied natural gas (LNG).
ADNOC Gas will supply TotalEnergies LNG which will be delivered to various export markets around the world.
The three-year contract is expected to finish in 2023.
The French company said the 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.”
ADNOC Gas has access to 95% of the UAE’s natural gas reserves, estimated to be the seventh largest globally, suppling more than 60% of the UAE’s gas needs. Early this year, raised $2.5 billion in one of the biggest IPOs globally.
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