ADNOC Gas has signed a deal, valued between $500m (Dh1.84bn) and $700m, with JERA Global Markets for the supply of liquefied natural gas (LNG) to the latter.

Under the multi-year agreement, ADNOC Gas will supply the contracted LNG volumes from its Das Project to JERA Global Markets’ global supply portfolio.

ADNOC owns LNG production facilities on Das Island. These facilities supplied LNG to the Tokyo Electric Power Company, which is one of the parent companies of JERA, for more than 40 years.

In a press statement, ADNOC Gas said: “This agreement builds on the long-standing relationship between the UAE [United Arab Emirates] and Japan, and reinforces ADNOC Gas’ position as a global LNG export partner of choice. Japan is a vital energy partner for the UAE, and this agreement bolsters ADNOC’s growing track record of fostering strategic partnerships with Japanese energy companies.”

For two years starting from 2024, ADNOC Gas will supply around 400,000 tonnes of LNG, or six cargoes per year. This will be supplied on a delivered-ex-ship (DES) basis to Japan, reported Reuters, citing a JERA spokesperson.

JERA Global Markets chairman and chief optimisation officer Kazunori Kasai said: “We are pleased to re-establish our LNG partnership with ADNOC Gas as the JERA group continuously looks towards strengthening our global LNG portfolio with stable, flexible and competitive LNG supply, which is essential in the energy transition.”

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By GlobalData

Since listing shares on the Abu Dhabi Securities Exchange in March 2023, ADNOC Gas signed LNG supply deals with several companies including PetroChina, JAPEX and TotalEnergies.

These deals have a total value of between $9.4bn and $12bn.