ABU DHABI, seventeenth August, 2023 (WAM) — ADNOC Gas plc, a world-class built-in gasoline processing firm, right now introduced a five-year liquefied pure gasoline (LNG) provide settlement with Japan Petroleum Exploration Co., Ltd. (JAPEX), the Japan-based power firm.
The settlement, valued between $450 million (AED1.65 billion) and $550 million (AED2 billion), builds on the long-standing bilateral relationship between the UAE and Japan and ADNOC’s observe report of fostering mutually useful strategic partnerships with Japanese power corporations.
Commenting on the settlement, Ahmed Alebri, Chief Executive Officer of ADNOC Gas, stated, “Japan is one of the UAE’s largest and most important energy partners and we are very pleased to strengthen this relationship through this LNG supply agreement with JAPEX. The agreement reinforces ADNOC Gas’ position as a global LNG export partner of choice and highlights the Company’s growing global presence, particularly in the Asian LNG market.”
Natural gasoline performs a vital function as a transitional gas with decrease carbon emissions in comparison with different fossil fuels. It additionally serves as an necessary uncooked materials in industrial worth chains.
ADNOC Gas continues to leverage alternatives arising from ADNOC’s built-in gasoline masterplan which hyperlinks each a part of the gasoline worth chain within the UAE, guaranteeing a sustainable and financial provide of pure gasoline to fulfill native and worldwide demand.