Abu Dhabi National Oil Company (ADNOC) and Berlin-based SEFE Securing Energy for Europe inked a long-term deal for the delivery of 1 million tonnes per annum (mmtpa) of liquefied natural gas (LNG), both companies announced on Monday.
The LNG will come from ADNOC’s lower-carbon Ruwais LNG project, currently under development in Al Ruwais Industrial City, Abu Dhabi. Deliveries are expected to start in 2028, upon the commencement of the facility’s commercial operations, ADNOC said in a statement.
SEFE said the agreement “is contingent upon a final investment decision (FID) on the project, including regulatory approvals, and the negotiation of a definitive sales and purchase agreement between the two companies.”
Commenting on the deal, Fatema Al Nuaimi, executive vice president of downstream business management at ADNOC, said: “This LNG agreement, the first with a European company from the Ruwais lower-carbon LNG project, underscores ADNOC’s position as a reliable and responsible global energy provider.”
“Gas accounts for almost a quarter of Germany's primary energy use, and we look forward to supporting its efforts to diversify its energy sources and enhance its energy security,” Al Nuaimi added.
For his part, Egbert Laege, CEO of SEFE, “We are delighted to be the first European company to secure LNG volumes from ADNOC’s low-carbon Ruwais LNG project and look forward to this deal being the foundation for more enhanced collaboration in LNG and low-carbon alternatives.”
Frederic Barnaud, chief executive officer of SEFE’s Marketing & Trading department, said the deal marks a new chapter in the five-year partnership between SEFE and ADNOC with the joint exploration of low-carbon energy developments.
“The supply deal with Ruwais, set to be one of the lowest carbon-intensity LNG projects in the world, is an important first step,” he said.
Monday’s deal is the second long-term LNG supply agreement from the Ruwais LNG project after the 15-year agreement with China’s ENN Natural Gas signed in December last year.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr