ADNOC LNG Signs Strategic LNG Supply Agreements with Vitol, Total

ADNOC LNG Signs Strategic LNG Supply Agreements with Vitol, Total

ADNOC LNG has signed two strategic supply agreements with Vitol and Total, according to a press release.

The two agreements are significant in size with Vitol purchasing 1.8 million tons per year (mmt/y) of post-2022 liquefied natural gas (LNG) volumes as well as a two-year supply agreement with Total for 0.75 mmt/y of 2021 and 2022 LNG volumes.

This news was announced at the Abu Dhabi International Petroleum Exhibition and Convention (ADIPEC) 2020 with Fatema Al Nuaimi, CEO of ADNOC LNG, saying: “We are pleased to partner with both Vitol and Total on these major deals as they will create reliable, long-term benefits for our company and shareholders. Through collaboration and by adopting a partnership approach, we are driving new growth opportunities for ADNOC and are maximizing the value of our nation’s resources.”

These are strategic deals signed at a time when LNG is showing signs of prominence; it is expected LNG global demand will grow by up to 5% annually over the next 20 years.  

ADNOC LNG produces about 6 mmt/y of LNG from its facilities on Das Island off the coast of Abu Dhabi and is one of the world’s most reliable producers of the supercooled, liquefied gas. 

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