Abu Dhabi's ADNOC Gas Signs 5-Year LNG Supply Deal with Japex
8/17/2023
(Reuters) — Abu Dhabi's ADNOC Gas said on Thursday it has signed a five-year deal to supply LNG to Japan Petroleum Exploration Co. (Japex).
The deal is valued at between $450 million to $550 million, ADNOC Gas said, without providing LNG volumes or timing for the shipments to start.
The deal follows Japanese Prime Minister Fumio Kishida's visit to the UAE and other Gulf states in July, which focused on securing energy supplies for Japan, which remains highly dependent on oil and gas imports.
ADNOC has previously said that Japan imports approximately 25% of its crude oil from the UAE, making it ADNOC's largest international importer of oil and gas products.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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