ADNOC signs major Chinese LNG deals

Tuesday, 22 April 2025
Free Read

Abu Dhabi energy company, ADNOC was said to have signed at least three LNG offtake deals with Chinese interests over the weekend following a visit of company representatives to the country.

For example, a term deal was agreed with China's privately controlled ENN Natural Gas.

ENN said on its official WeChat account on Saturday that the deal involved the supply of about 1 mill tonnes for 15 years.

Separately, state oil and gas trader, Zhenhua Oil was reported to have agreed a five year deal with ADNOC starting in 2026 for up to 12 cargoes per year.

Zhenhua's first long-term LNG contract features pricing on a delivered ex ship (DES) basis into Rudong in east China's Jiangsu province.

Some shipments were benchmarked to the Japan Korea Marker (JKM) and others to Brent, a source told Reuters.

China National Offshore Oil Corp (CNOOC) was also believed to have agreed a term deal with ADNOC, according to a state media report.

CNOOC's Gas and Power unit, which is responsible for the state energy company's gas business, signed a five-year deal starting next year for 500,000 tonnes of LNG per annum.

On Saturday, China Energy News reported the deals, but provided little details, the newswire reported.

Last modified on Thursday, 24 April 2025 12:51
Rate this item
(0 votes)

Related Video

Free Read