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  • ADNOC LNG Signs Agreements with BP and Total Completing Diversification and Filling Orderbooks Through Q1 2022
    édité le 12/11/2019 - Plus de news de "ADNOC" - Voir la fiche entreprise de "ADNOC"


ADNOC LNG Signs Agreements with BP and Total Completing Diversification and Filling Orderbooks Through Q1 2022
ADNOC LNG said it has concluded supply agreements with subsidiaries of BP and TOTAL, effectively booking out the majority of its LNG production through Q1 2022. With the transactions, ADNOC LNG has continued to expand its footprint into new regions and markets.

The agreements were signed by officials from BP, TOTAL and ADNOG LNG, an Abu Dhabi National Oil Company (ADNOC) operating company. The signing of the agreements was witnessed by His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO; Bob Dudley, Group CEO of BP and Patrick Pouyanné, Chairman and CEO of Total.

“With these new supply agreements, ADNOC LNG has shown that it can react quickly and decisively to changing market conditions while ensuring the security and quality of delivery,’’ said ADNOC LNG CEO, Fatema Al Nuaimi. “With the support of our shareholders, we have maximized access to new markets with strong LNG growth potential”

“We have also successfully demonstrated our ability to shift from one customer to multiple customers while maintaining our plant’s high reliability and accepting ships from different customers at our jetty. We continue to deliver on time, with the right specification, quality and agreed amounts.”

Today’s agreements are milestones in ADNOC LNG’s successful transition to a multi-customer marketing strategy that began just eight months ago in April 2019. Since then, ADNOC has shifted from supplying 90% of its LNG molecules to a single utility customer in Japan, which remains an important customer for ADNOC LNG, to supplying 90% of its LNG molecules to a range of clients and receiving terminals in more than eight countries across southern and southeast Asia including India, China, South Korea and Taiwan.

“BP is delighted to have concluded this LNG supply agreement” said Robert Lawson, COO Gas, Integrated Supply and Trading, BP. “ADNOC LNG is a longstanding supplier to BP’s integrated supply and trading business. We are very pleased to have secured this new multi-year supply agreement.”

“The 2 year LNG Supply Agreement contributes to the growth and flexibility of Total’s LNG portfolio and strengthens our longstanding relationship with ADNOC LNG” said Laurent Chevalier, Vice President Middle East, Gas, Renewables & Power, Total.

According to industry analysts, LNG is the fastest-growing hydrocarbon with a growth rate close to 4 per cent per annum. Global LNG demand is expected to exceed 600 million tons per annum by 2035, up from nearly 300 million tons per annum in 2017.

ADNOC LNG produces about 6 million tons per annum (MMTPA) of LNG from its facilities on Das Island off the coast of Abu Dhabi and is one of the world’s most reliable producers of the supercooled, liquified gas.

ADNOC was the first LNG exporter in the Middle East and has been a reliable supplier of gas to global markets for over 40 years. Abu Dhabi’s strategic geographical location gives ADNOC advantaged access to growth markets in the Middle East and Asia, which are expected to drive significant gas demand in the near and long-term future.

ADNOC LNG is majority owned by ADNOC, which has a 70% share of the company. Additional shareholders are Mitsui & Co (15%), BP (10%), and TOTAL (5%).

About ADNOC

ADNOC is one of the world’s leading diversified energy and petrochemicals groups with a daily output of about 3 million barrels of oil and 10.5 billion cubic feet of natural gas. With 14 specialist subsidiary and joint venture companies, ADNOC is a primary catalyst for the UAE’s growth and diversification.

About BP

BP (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.

About Total

Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.


Origine : Communiqué ADNOC

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