Oil and gas company ADNOC, on Monday, signed a 15-year agreement with Singapore-based peer SEFE Marketing and Trading, for the supply of 1 million metric tonnes per annum (MMTPA) of liquefied natural gas (LNG).
LPG will be sourced from its Ruwais LNG project, said ADNOC. Additionally, in late December 2023, the firm joined forces with ENN LNG, Singapore, a wholly owned subsidiary of China-based ENN Natural Gas, for the delivery of one million mmtpa LNG.
Ruwais LNG project looks to develop in Engineering, Procurement, and Construction (EPC). The project is currently under construction in Al Ruwais Industrial City, Abu Dhabi and is expected to start its operation in 2028, said the energy company.
In October, the firm gave the contract valued at about $400 million to Baker Hughes, an oilfield services and equipment provider, to supply electric compression systems for the liquefaction of natural gas, powered by clean energy, at its low-carbon LNG asset in the Al Ruwais Industrial City.
The firm said the agreement reinforces the Energy Security and Industry Accelerator (ESIA) agreement, signed by the UAE and Germany in 2022. This looks to accelerate projects of joint interest in areas of energy security, decarbonization, and climate action.
In February, ADNOC, along with oil and gas BP, is on board to form Joint Venture in Egypt, where BP holds 51% and ADNOC holds 49%, to combine both companies’ technical capabilities to grow a highly competitive gas portfolio.
SEFE Marketing & Trading Singapore is a subsidiary of Germany’s SEFE Securing Energy for Europe, which expands into various energy-producing divisions like LPG, power, gas and provides comprehensive risk management.
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