LNG

Abu Dhabi National Oil Company (ADNOC), the oil and gas company and LNG producer in the United Arab Emirates, has awarded three framework agreements valued at 14.68 billion UAE dinars ($4 billion) for integrated drilling services to support the ongoing expansion of its oil and natural gas production activities.

Italian energy company Eni, with an excellent success record with major gas discoveries offshore Egypt and Mozambique, has teamed up with Thailand’s national energy company PTTEP to sign a concession agreement for the acquisition of exploration Block 3 offshore LNG producer Abu Dhabi in the United Arab Emirates.

Qatar has signed a new long-term sale and purchase agreement with Royal Dutch Shell to deliver 1 million tonnes per annum of liquefied natural gas to the neighbouring Gulf state of  Kuwait starting in 2020.

This accord between Qatargas and Shell for the supply of LNG to Kuwait follows the recent pact signed between Qatar Petroleum and Kuwait Petroleum Corp. 

Cargoes of LNG are shipped at present to the dockside facility at Mina Al-Ahmadi in Kuwait. This terminal has been in operation since 2009.

However, the Gulf nation is building a second and larger onshore terminal close to a new refinery complex at Al-Zour, about 90 kilometres south of Kuwait City.

The new Kuwaiti terminal is being constructed  by a consortium led by Hyundai Engineering Co. of South Korea.

“These agreements demonstrate our commitment to Kuwait, which is a very important LNG market,” said the Qatari Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi, who is also President and Chief Executive of Qatar Petroleum.

He added that the new SPA further underlined Qatargas’s position as the a market leader in LNG and demonstrated the company’s track-record of providing reliable LNG to the global market place.

The supplies will come from the Qatargas IV Train at Ras Laffan. This is a joint venture owned 70 percent by Qatar Petroleum and 30 percent by Shell.

Kuwait’s domestic natural gas demand is increasing in line with other Middle East nations and it is already receiving additional deliveries from new suppliers such as the US.

The expansion in infrastructure comes as Kuwait and its neighbour, the United Arab Emirates, are already among the top 20 destinations for shipments from US exporters such as Cheniere’s Energy’s Sabine Pass export plant in Louisiana.

The state of Kuwait, like the other Gulf Cooperation Council members is embarking on an ambitious path of economic growth.

This requires cleaner energy sources such as natural gas that will contribute to reducing emissions and improving local air quality, while also supplying energy for industry and domestic consumption.

Abu Dhabi National Oil Company, the producer of oil and LNG for the United Arab Emirates, has concluded one of the largest ever deals for refining assets by selling a one-fifth shareholding to Italian energy company Eni for $3.9 billion as the UAE seeks to fund a long extension of LNG output and additional exploration and production activities.

The United Arab Emirates, the LNG producer that is expanding its natural gas and oil exploration in Abu Dhabi, has signed two concession agreements with Italian energy company Eni and its joint venture partner from Thailand, PTT Exploration and Production Company.

Abu Dhabi National Oil Company (Adnoc), the leading energy group in the United Arab Emirates, has issued a plan of action for its recently discovered 15 trillion cubic feet of natural gas and substantial additional oil reserves while preparing to award new exploration licences early in 2019.