Abu Dhabi's ADNOC Gas signs 5-yr LNG supply deal with Japex

8/17/2023

(Reuters) - Abu Dhabi's ADNOC Gas said it has signed a five-year deal to supply LNG to Japan Petroleum Exploration Co.

The deal is valued at between $450 MM to $550 MM, ADNOC Gas said, without providing LNG volumes or timing for the shipments start.

The deal follows Japanese Prime Minister Fumio Kishida's visit to the UAE and other Gulf states in July, which focused on securing energy supplies for Japan, which remains highly dependent on oil and gas imports.

ADNOC has previously said that Japan imports approximately 25% of its crude oil from the UAE, making it ADNOC's largest international importer of oil and gas products.