ADNOC Gas inks LNG supply deal with TotalEnergies

ADNOC Gas has signed a three-year liquefied natural gas (LNG) supply agreement with a unit of France’s TotalEnergies.

The value of the deal is expected to be in the range of $1 billion to $1.2 billion under current market conditions.

The agreement represents another important milestone as ADNOC Gas expands its global reach and demonstrates its ability to meet growing international demand for LNG, a critical energy transition fuel.

Under the terms of the deal, through its subsidiary, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world.

"This agreement reflects our commitment to meeting the needs of our customers by offering supply security, price competitiveness, and flexibility. We look forward to continuing our long-term strategic partnership with TotalEnergies, building on our shared commitment to sustainability and the energy transition," said Ahmed Alebri, Chief Executive Officer of ADNOC Gas.

TotalEnergies has a longstanding presence in the UAE, having operated in the country for more than 80 years.

"These additional volumes will strengthen our global LNG portfolio, our ability to supply the growing Asian markets, and our ambition to accompany our customers in their energy transition," said Thomas Maurisse, Senior Vice President LNG at TotalEnergies.

The three-year contract is expected to commence in 2023 and will run through 2025, reinforcing both companies’ positions as key players in the global LNG market.