Adnoc Gas announced on Thursday that it had reached a deal to supply PetroChina International Company Limited (PCI), a division of PetroChina Company Limited, one of the major producers and distributors of oil and gas in China, with liquefied natural gas (LNG) for a price range of $450 million (Dh1.65 billion) and $550 million (Dh2 billion).
Adnoc Gas’ expanding global footprint, notably in the East and South Asian regions, is highlighted by this arrangement. Adnoc Gas is dedicated to providing dependable supply to its clients globally since natural gas is an essential transitional fuel that produces fewer carbon emissions than other fossil fuels.
‘We are thrilled to sign this LNG supply deal with PCI, further extending our footprint in one of the world’s fastest-growing gas markets,’ said Ahmed Mohamed Alebri, Chief Executive Officer of Adnoc Gas. The arrangement further solidifies Adnoc Gas’ position as a major LNG provider to East and South Asia and beyond. China will continue to be a significant market for us.
Due to its adaptability, LNG may be used in a wide range of sectors, which promotes economic growth. LNG is a crucial raw material in industrial value chains.
“Energy is an important area of collaboration between China and the UAE,” said Wu Junli, chairman of PCI, in response to a question about the deal. We are thrilled to work with Adnoc Gas, a firm dedicated to provide a steady and dependable energy supply with zero carbon emissions. By signing this agreement, our two businesses are expanding their collaboration, and PCI is remaining devoted to Adnoc Gas as a partner on a worldwide scale.
This arrangement, along with others with TotalEnergies Gas and Power, India Oil Corporation (IOCL), and Japan Petroleum Exploration Co., Ltd. (JAPEX), highlight Adnoc Gas’ status as a top worldwide export partner.
Adnoc Gas is continuing to take advantage of the opportunities provided by the company’s integrated gas strategy, which connects every stage of the UAE’s gas value chain and ensures a cost-effective and sustainable supply of natural gas to fulfill both domestic and global demand.
