Adnoc signs SPA agreement with Japan’s Osaka for Ruwais LNG: Adnoc signed a 15-year sales and purchase agreement (SPA) with Japanese gas provider Osaka Gas to supply it with LNG from its Ruwais LNG project, it said in a press release.

The details: The agreement will see Adnoc supply Osaka with up to 0.8 mn metric tonnes of liquified natural gas (LNG) per year from Adnoc’s Ruwais LNG project, in Abu Dhabi’s Al Ruwais Industrial City. The project is currently under development and slated to be commercially operational in 2028. LNG shipments will go to Osaka Gas’ and its Singapore-based subsidiary Osaka Gas Energy Supply and Trading’s (OGEST) ports.

We knew this was coming: The two companies signed a long-term heads of agreement last summer to supply Osaka Gas and OGEST with LNG from the project, which has a 9.6 mn metric tonnes per annum (mtpa) capacity through its two 4.8 mtpa LNG liquefaction trains.

The tally so far: Adnoc has secured commitments for 8 mn of Ruwais’ 9.6 mn mtpa capacity, the statement said, including for buyers in China, Germany, Malaysia, and other countries across Asia and Europe. The facility will go live in 2028.

REMEMBER- Adnoc Gas is set to acquire a 60% stake in the project from its parent firm Adnoc in 2H 2028 for an estimated USD 5 bn.

The gas unit has also been converting its initial LNG agreements into sales and purchase agreements: Adnoc also struck an agreement earlier this month with Indian Oil, valued at USD 7-9 bn, to provide them with 1.2 mn tonnes a year of LNG, and with Gail last November for 0.52 mn metric tonnes of LNG a year. Both agreements will see Adnoc Gas supply LNG through its Das Island facility.

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