2023-09-07 21:01:24
Abu Dhabi (Al Ittihad)
ADNOC Gas signed an agreement to supply liquefied natural gas, with a value ranging from 1.65 to 2 billion dirhams ($440 to 550 million) with PetroChina International Limited (“PetroChina” or “BCI”), a subsidiary of PetroChina Limited. It is one of the leading oil and gas producers and distributors in China.
This agreement confirms the growing global presence of ADNOC Gas, especially in the East and South Asian markets.
Natural gas plays a pivotal role as a transitional fuel, due to its low carbon emissions compared to other fossil fuels, as ADNOC Gas continues its commitment to ensuring the provision of reliable, sustainable and economic supplies of natural gas to meet the growing demand for this vital resource in the local and global markets.
Ahmed Al-Abri, CEO of ADNOC Gas, said: “The signing of this agreement to supply liquefied natural gas with BCI enhances our presence in one of the fastest growing gas markets in the world, and China continues to confirm its position as a major market for ADNOC Gas products.” This agreement is to solidify our role as a major supplier of LNG throughout East and South Asia and other markets.
Liquefied natural gas is an important raw material for industrial value chains, as its versatility allows it to be used in a wide range of industries, thus enhancing economic growth.
For his part, Wu Junli, Chairman of the Board of Directors of BCI, said: Energy is an important area of cooperation between China and the UAE, and we are pleased to conclude this partnership with ADNOC Gas, a company committed to providing stable, reliable and low-emissions energy supplies, and this pioneering agreement enhances areas of cooperation between the two companies, and reaffirms our company’s commitment to ADNOC Gas as a global partner.
The announcement of this agreement with BCI comes following ADNOC Gas announced the conclusion of several other agreements for the sale of liquefied natural gas with various companies around the world, including the agreements concluded with the Japan Petroleum Exploration Company Ltd. ( Japex), “Total Energies” and “Indian Oil Corporation Limited” (IOCL), which confirms ADNOC Gas’s position as a preferred global partner for the export of liquefied natural gas.
It is noteworthy that ADNOC Gas will continue to take advantage of the opportunities offered by ADNOC’s integrated master plan for gas, which aims to link the components of the value chain to ensure the provision of sustainable and economic supplies of natural gas to enable the UAE to achieve self-sufficiency in it, support economic growth and diversification, and meet demand. growing in the local and global markets.
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