The value of the deal will be between $1 billion and $1.2 billion at current market prices.
Under the terms of the agreement, ADNOC Gas will supply Total Energies, through its subsidiary Total Energies Gas & Power Limited, with LNG and deliver it to various export markets around the world.
This agreement reflects ADNOC Gas’ capabilities to meet the growing global demand for liquefied natural gas, which will play a central role during the transition phase in the energy sector.
On this occasion, Ahmed Al-Abri, CEO of ADNOC Gas, said: “The LNG supply agreement with Total Energies represents an important development in the company’s strategy to expand its global reach and strengthen its position as a preferred partner for LNG exports to “This agreement also reflects the company’s commitment to meeting the needs of its customers by providing reliable and secure supplies at flexible and competitive prices. We look forward to continuing the long-term strategic partnership with our partners at Total Energies who share our commitment to sustainable development and environmental protection.”
Total Energies has a multi-year presence, having worked in the country for over 80 years.
For his part, Thomas Maurice, Senior Vice President LNG at Total Energies, said: “We are pleased to sign this three-year contract with our strategic partner. These additional volumes provided by this contract contribute to the strengthening and expansion of our business LNG portfolio Globally, support our ability to supply Asian markets and realize our ambition to be the partner of choice for the company’s customers in the transition phase of the energy sector.
Work on the contract is expected to start in 2023 and continue through 2025, strengthening both companies’ position as major players in the global LNG market.
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