ADNOC signs 15-yr LNG supply deal with Germany's EnBW
Abu Dhabi National Oil Company has signed an agreement to supply German utility company EnBW with 600,000 tpy of liquefied natural gas from its Ruwais project for 15 years.
The sales and purchase agreement (SPA), which will see the United Arab Emirates state oil giant ship LNG starting in 2028, finalizes a heads of agreement reached in May.
More than 8 MMtpy of Ruwais' total 9.6 MMtpy expected production has been committed through long-term agreements, ADNOC said.
ADNOC sees LNG and natural gas, alongside petrochemicals and renewables, as pillars of its future growth. The Ruwais project will more than double the UAE's existing LNG production capacity to 15 MMtpy.
The deal is ADNOC's third binding LNG supply deal from Ruwais, and the second to Germany following one signed with Germany's state-owned Securing Energy for Europe (SEFE) last month for 1 MMtpy.
ADNOC also signed a binding deal to supply 1 MMtpy to Malaysian state energy firm Petronas this month.
In July, ADNOC awarded Shell, BP, TotalEnergies and Japan's Mitsui each a 10% stake in the Ruwais LNG project, for which $5.5 billion worth of engineering, procurement and construction contracts were signed in June.
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