ADNOC Gas has signed a five-year LNG supply agreement with Japan Oil Exploration Company Limited (Japex), according to a disclosure issued on Thursday.
The value of the agreement ranges between $450 million and $550 million, depending on the company listed on the Abu Dhabi Securities Exchange.
ADNOC Gas provides about 60% of the sales gas needs in the UAE, and sells its products to customers in more than 20 countries.
The giant energy company in Abu Dhabi, ADNOC, raised $ 2.5 billion from the gas business offering, which is considered one of the largest initial offerings around the world during 2023, as the state-owned ADNOC sold a 5% stake in the company, which is valued at about $ 50 billion.
ADNOC Gas is one of the largest gas processing entities in the world, with a capacity of 10 billion cubic feet per day across eight onshore and offshore sites and a pipeline network extending over 3,250 km (2019 miles).
