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Adnoc to supply SEFE subsidiary with 1 mn tons of LNG: Abu Dhabi National Oil Company (Adnoc) signed a preliminary 15-year agreement with SEFE Marketing & Trading Singapore, a subsidiary of Germany’s state-owned energy firm Securing Energy for Europe (SEFE), to supply it with 1 mn tons of liquefied natural gas (LNG) per year, according to a statement. The LNG will be sourced from Adnoc’s Ruwais LNG project, with deliveries set to commence in 2028 once the facility is operational.
What’s next? A finalized agreement will be subject to receiving regulatory approval and the companies reaching a definitive sale and purchase agreement. Adnoc is yet to make a final investment decision on the Ruwais project, expected to be reached in 1H 2024. With the facility set to double the firm’s LNG export capacity, Adnoc will use its own funds to further expand production.
Not the first time:Another 15-year framework agreement was inked with China’s ENN Natural Gas last December to deliver some 1 mn tons of LNG annually from the new plant. The company also inked LNG export agreements valued between USD 9.4 and 12 bn in 2023, including a 14-year LNG supply agreement with the Indian Oil Corporation, a three-year agreement with Total Energies, and a five-year agreement with Japan Petroleum Exploration.
More about Ruwais LNG: The project is positioned to become the region’s first LNG export facility to operate on renewable energy, the statement adds. Ruwais LNG consists of two 4.8 mmtpa LNG liquefaction trains, with a combined 9.6 mmtpa capacity, which will more than double Adnoc’s LNG output to 15 mmtpa once Ruwais LNG comes online.
