|The TEX Report Topics < LNG >|
|HOME >> Topics List >> November, 2019 >> 14 (Thu)|
|ADNOC LNG Signs Short-Term Deals on LNG Sales with BP and Total|
|= Its LNG through Q1 2022 almost sold =|
Abu Dhabi National Oil Company (ADNOC) on 12th announced its subsidiary ADNOC LNG has signed agreements on LNG sales with BP and Total and its majority of LNG through the first quarter of 2022 has been sold.|
ADNOC LNG said; "With the transactions, ADNOC LNG has continued to expand its footprint into new regions and markets. The company had sold approximately 90% of LNG to single buyer Japan's JERA until this March but since this April, after the expiration of the deal with the Japanese company, it has been expanding its targets and is selling LNG to several buyers in South and Southeast Asia including China, S. Korea, and Taiwan.
The agreements with BP and Total came as part of its strategy. ADNOC told it continued to deliver on time with the right specification, quality and agreed amounts while accepting ships from different customers at its jetty.
ADNOC LNG produces approx. 6 million mt per annum of LNG at its LNG production terminal in Das Island, Abu Dhabi. It had supplied most of its LNG to JERA until this March under the long-term SPA deal, but JERA significantly reduced its purchase volume to eight cargoes (approx. 500,000 mt) at the renewal of the contract in April, and also shortened the contract period to three years.
|last modified : Wed 20 Nov, 2019 [10:53]|