ADNOC LNG signs agreements with BP and TOTAL
21 November 2019
ADNOC LNG said recently that it has concluded supply agreements with subsidiaries of BP and TOTAL, effectively booking out the majority of its LNG production through Q1 2022. With the transactions, ADNOC LNG has continued to expand its footprint into new regions and markets.
The agreements were signed by officials from BP, TOTAL and ADNOG LNG, an Abu Dhabi National Oil Company (ADNOC) operating company.
The agreements are milestones in ADNOC LNG’s successful transition to a multi-customer marketing strategy that began in April 2019. Since then, ADNOC has shifted 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 more than eight countries across southern and southeast Asia including India, China, South Korea and Taiwan.
ADNOC LNG produces about 6 million tons per annum (MMTPA) of LNG from its facilities on Das Island off the coast of Abu Dhabi and is one of the world’s most reliable producers of the supercooled, liquified gas.