Abu Dhabi —
ADNOC LNG said Tuesday it signed supply agreements with units of BP Plc and Total SA, leaving most of its production booked through the first quarter of 2022.
Tonnage was not disclosed in an emailed statement from ADNOC LNG, which is 70% owned by the UAE’s Abu Dhabi National Oil Co., 15% by Mitsui & Co, 10% by BP and 5% by Total. The deals were signed in a ceremony in Abu Dhabi, with ADNOC group chairman Sultan Ahmed al Jaber, BP CEO Bob Dudley and Total CEO Patrick Pouyanne attending.
“With the support of our shareholders, we have maximized access to new markets with strong LNG growth potential,” ADNOC LNG CEO Fatema al Nuaimi said in the statement.
Total’s agreement is for two years, Laurent Chevalier, VP Middle East, gas, renewables and power for Total, said in the statement. “ADNOC LNG is a longstanding supplier to BP’s integrated supply and trading business,” Robert Lawson, COO of gas, integrated supply and trading for BP, said in the statement. BP secured a “multi-year supply agreement,” he said.
ADNOC LNG has sought to diversify its LNG customer base since April, moving from serving a single customer in Japan to supplying 90% of output to several clients and receiving terminals in more than eight countries including India, China, South Korea and Taiwan.
ADNOC LNG produces about 6 million tons of LNG annually, from facilities on Das Island off the coast of Abu Dhabi. ADNOC was the first LNG exporter in the Middle East, the company said. Qatar is the world’s biggest exporter.
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–Edited by Claudia Carpenter, claudia.carpenter@spglobal