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ADNOC LNG signs supply agreements with subsidiaries of BP and TOTAL

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LNG Industry,

ADNOC LNG has concluded supply agreements with subsidiaries of BP and TOTAL, effectively booking out the majority of its LNG production through 1Q22.

With these transactions, ADNOC LNG claims that it has continued to increase its footprint into new regions and markets.

According to the statement, the agreements were signed by officials from BP, TOTAL and ADNOG LNG, an Abu Dhabi National Oil Co. (ADNOC) operating company.

ADNOC LNG CEO, Fatema Al Nuaimi, said: “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.

“With the support of our shareholders, we have maximised 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.”

ADNOC LNG claims that these latest agreements are milestones in its transition to a multi-customer marketing strategy that commenced in April 2019. Since then, the company has shifted away 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 over eight countries across southern and southeast Asia, including India, China, South Korea and Taiwan.

Robert Lawson, COO Gas, Integrated Supply and Trading, BP, said: “BP is delighted to have concluded this LNG supply agreement.

“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.”

Laurent Chevalier, Vice President Middle East, Gas, Renewables & Power, Total, added: “The two year LNG supply agreement contributes to the growth and flexibility of Total’s LNG portfolio and strengthens our longstanding relationship with ADNOC LNG.”

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