Adnoc Gas PJSC has signed a liquefied natural gas (LNG) supply agreement worth AED 1.65-2 billion (USD 440-550 million) with PetroChina (PCI).
Mentioning that PetroChina is one of China’s largest oil and gas producers and distributors.
Overview about Adnoc Gas PJSC.
Adnoc Gas PJSC is a global gas processing company headquartered in Abu Dhabi, United Arab Emirates, established in 1977.
It is a major contributor to the UAE economy.
Since it employs over 5,000 people and it generates billions of dollars in revenue each year.
The company is also a major source of foreign investment in the UAE.
Today, it is one of the largest LNG producers in the world.
It has a production capacity of 10.4 million tonnes per annum, and it exports LNG to more than 30 countries.
Also it is between Top UAE’s investment companies on Forbes list
Moreover, it has a processing capacity of 17 billion cubic feet per day for a variety of customers.
Including power plants, industrial plants, and residential customers.
Adnoc Gas Growing Global Presence.
Furthermore, the company has signed an LNG supply agreement worth AED 1.65-2 billion (USD 440-550 million) with PetroChina (PCI).
The agreement underscores Adnoc Gas’s growing global presence, particularly in the markets of East and South Asia.
In fact, Natural gas plays a key role as a transition fuel due to its lower carbon emissions compared to other fossil fuels.
Ahmad Al-Ebri, CEO of Adnoc Gas, said:
“China continues to reaffirm its position as a major market for Adnoc Gas products.
Also, this agreement further cements our role as a leading LNG supplier across East and South Asia and other markets.”
Last August, Adnoc Gas signed a 5-year agreement to supply LNG to Japan Oil Exploration Co., Ltd. (Japex).
Also, the approximate value of the agreement was around AED 2 Billion.
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