Abu Dhabi National Oil Company (ADNOC) has signed a 15-year Sales and Purchase Agreement (SPA) with Japan’s largest exploration and production company, INPEX Corporation, to supply 1 million tons per annum (mtpa) of liquefied natural gas (LNG) from its Ruwais LNG project, according to a press release by ADNOC.
The agreement was announced during a visit to Japan by UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO Sultan Al Jaber, who is leading a delegation to meet with senior Japanese government and business leaders to strengthen the UAE’s long-standing energy partnership with Japan.
“This SPA with INPEX marks the first long-term LNG agreement announced following the launch of ADNOC and XRG’s integrated global LNG marketing and trading platform, demonstrating how we are bringing more LNG molecules, greater market access and enhanced commercial flexibility to our customers,” Nasser Al Muhairi, Acting CEO of ADNOC Downstream Industry, Marketing & Trading and Chairman of Ruwais LNG, said.
“It builds on ADNOC’s decades-long energy partnership with Japan, advances the commercialization of Ruwais LNG and reinforces strong market confidence in the project. As ADNOC and XRG target 47 mtpa of combined marketable LNG by 2035, Ruwais LNG will be a key source of reliable, flexible and lower-carbon supply for customers in Asia and around the world,” he added.
The agreement also strengthens the long-standing relationship between ADNOC and INPEX, which holds participating interests in several of Abu Dhabi’s offshore and onshore concessions. The deal aligns with INPEX Vision 2035, under which the Japanese company aims to expand its LNG portfolio and enhance supply flexibility.
The LNG will be primarily sourced from the Ruwais LNG project, which is under development in Al Ruwais Industrial City in Abu Dhabi and is scheduled to begin commercial operations in 2028.
According to ADNOC, around 90% of the project’s total production capacity of 9.6 mtpa has already been committed to international customers across Asia and Europe through long-term agreements.
The Ruwais LNG project comprises two liquefaction trains with a combined capacity of 9.6 mtpa. ADNOC said the facility will be the first LNG export plant in the Middle East and Africa to operate on clean power and will utilize artificial intelligence and advanced technologies to enhance operational efficiency, improve safety, and reduce emissions.
In November 2024, ADNOC Gas announced that it expects to acquire ADNOC’s 60% stake in the Ruwais LNG project at cost, estimated at approximately $5 billion, in 2028. Once completed, the acquisition is expected to increase ADNOC Gas’ operated LNG production capacity to around 15 mtpa, more than doubling its current capacity.
