ADNOC Gas PLC has entered into an agreement to supply liquefied natural gas with GAIL India Limited, for a period of 10 years.
A statement issued by the company on Tuesday indicated that the agreement includes the supply of 0.5 million metric tons annually of liquefied natural gas, and this agreement comes after the recent announcement of several international agreements for the sale of liquefied natural gas signed by ADNOC Gas.
This agreement announced today, Tuesday, came after the recent announcement of several international agreements for the sale of liquefied natural gas signed by ADNOC Gas.
Among those agreements were signed with Japan Petroleum Exploration Corporation Limited (JAPEX), Total Intergs, Indian Oil Corporation Limited and PetroChina International Limited.
ADNOC Gas stated in the statement that the demand for liquefied natural gas is still witnessing increasing growth worldwide as it is an important transitional fuel in the responsible transition phase in the energy field.
The company confirmed that it maintained strong sales momentum in 2023 by signing several liquefied natural gas agreements with a value ranging between 34.5 billion dirhams ($9.4 billion) and 44 billion dirhams ($12 billion).
The company also confirmed that it will move forward with the construction of the Ruwais low-emission liquefied natural gas project in Ruwais Industrial City. Upon completion, the project will consist of two natural gas liquefaction lines, with the production capacity of each of them reaching 4.8 million tons annually, with a total capacity of 9.6 million tons annually.
It is noteworthy that ADNOC Gas PLC signed a contract in October 2023 with JERA Global Markets Company, affiliated with the Japanese JERA Group, at a value ranging from 1.8 to 2.5 billion dirhams ($500 to 700 million).
