ADNOC Gas Signs $700 Million LNG Supply Deal With Japan’s Jera Global Markets

Abu Dhabi’s ADNOC Gas and Japan’s JERA global markets signed a two-year liquefied natural gas (LNG) supply agreement which has an estimated value of between USD 500 million and USD 700 million. ADNOC Gas a subsidiary of Abu Dhabi National Oil Company (ADNOC) signed multiple LNG supply deals this year which are valued at USD 9.4 billion and USD 12 billion. 

ADNOC Gas stated that the recent move is in line with the company’s goal of growing its global presence, particularly in the Asian market. This LNG supply agreement marks a significant milestone in ADNOC Gas's longstanding partnership with Jera.” Ahmed Alebri chief executive of Adnoc gas said. Jera's chief optimization officer Kazunori Kasai stated that the company is looking at strengthening its global LNG portfolio with stable flexible and competitive LNG supply. Which is essential for the energy transition. Natural gas continues to play a crucial role as a transitional fuel with lower carbon emissions compared to other fossil fuels.

ADNOC Gas has signed several significant international LNG agreements. Last month ADNOC signed a USD 450 million to USD 550 million LNG supply deal with PetroChina. The company signed a five-year LNG supply agreement with the same value as Japan Petroleum Exploration in August. In July, ADNOC signed a 14-year supply agreement with Indian Oil Corporation. ADNOC also signed deals with Total Energies Gas and Power which is a subsidiary of France’s Total Energies.

Additionally, this agreement builds on the longstanding bilateral relationship between the UAE and Japan. ADNOC’s LNG facilities on Das Island were developed in the 1970s to serve Tokyo Electric Power Company, this new supply agreement renews and enhances mutual trust in this partnership.

About JERAGM

JERA Global Markets is a leading utility-backed sea-borne energy trader that operates one of the largest energy portfolios in the world.  JERA Global Markets is a joint venture between majority shareholder JERA Co. Inc and EDF Trading. JERAGM’s shareholders are among the world's major utilities. JERAGM is strongly capitalized with over USD 500 million in paid-up capital and a total equity of USD 3 billion.

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