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ADNOC signs LNG agreements with BP and Total
ADNOC LNG* has concluded supply agreements with BP and Total, effectively booking out the majority of its LNG production through 1Q2022 and expanding its footprint into new regions and markets.
The company says the agreements are ‘milestones’ in its transition to a multi-customer marketing strategy that began in April 2019. Since then, ADNOC LNG has shifted from supplying 90% of its LNG molecules to a single utility customer in Japan, which remains an important customer, to supplying 90% to a range of clients and receiving terminals in more than eight countries across southern and south-east Asia, including India, China, South Korea and Taiwan.
ADNOC LNG produces about 6mn t/y of LNG from its facilities on Das Island, off the coast of Abu Dhabi.
*ADNOC LNG is majority owned by ADNOC, which has a 70% share of the company. Additional shareholders are Mitsui & Co (15%), BP (10%), and Total (5%).