Adnoc to supply SEFE subsidiary with 1 mn tons of LNG: Abu Dhabi National Oil Company (Adnoc) signed a preliminary 15-year agreement with SEFE Marketing & Trading Singapore, a subsidiary of Germany’s state-owned energy firm Securing Energy for Europe (SEFE), to supply it with 1 mn tons of liquefied natural gas (LNG) per year, Wam reports. The LNG will be sourced from Adnoc’s Ruwais LNG project, with deliveries set to commence in 2028 once the facility is operational.

What’s next? A finalized agreement will be subject to receiving regulatory approval and the companies reaching a definitive sale and purchase agreement. Adnoc is yet to make a final investment decision on the Ruwais project, expected to be reached in 1H 2024. With the facility set to double the firm’s LNG export capacity, Adnoc will use its own funds to further expand production.

ICYMI- Adnoc awarded an early engineering, procurement, and construction contract for the Ruwais project last week to a JV between engineering companies Technip Energies and JGC Corporation, and National Marine Dredging Company subsidiary National Petroleum Construction Company.

Adnoc is lining up Ruwais supply agreements: Adnoc inked a similar 15-year agreement with China’s ENN Natural Gas in December to deliver some 1 mn tons of LNG annually from the new plant. Adnoc Gas had also inked a 10-year contract with India’s state-owned natural gas company Gail to supply it with 500k tons of LNG per year, without specifying where the LNG will be sourced from.

The company also inked LNG export agreements valued between USD 9.4 and 12 bn in 2023, including a 14-year LNG supply agreement with the Indian Oil Corporation, a three-year agreement with Total Energies, and a five-year agreement with Japan Petroleum Exploration.

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