Adnoc LNG announced that it has concluded supply agreements with subsidiaries of BP and Total, booking out the majority of its LNG production through the first quarter of 2022.
With these new supply agreements, Adnoc LNG has shown that it can react quickly and decisively to changing market conditions while ensuring the security and quality of delivery. With the support of its shareholders, ADNOC has maximized access to new markets with strong LNG growth potential.
Adnoc LNG currently produces about 6 million tons per annum of LNG from its facilities on Das Island off the coast of Abu Dhabi, supplying 90 per cent of its LNG molecules to a range of clients and receiving terminals in more than eight countries across southern and southeast Asia including India, China, South Korea and Taiwan.
Adnoc LNG is majority-owned by Adnoc, which has a 70 percent share of the company. Additional shareholders are Mitsui & Co (15%), BP (10%), and Total (5%).
BP is delighted to have concluded this LNG supply agreement” said Robert Lawson, COO Gas, Integrated Supply and Trading, BP. “ADNOC LNG is a longstanding supplier to BP’s integrated supply and trading business. We are very pleased to have secured this new multi-year supply agreement.
Having read this I believed it was very informative. I appreciate you spending some time and energy to put this article together.
I once again find myself spending a significant amount of
time both reading and leaving comments. But so what, it was still worthwhile!