BAKU, Azerbaijan, February 28. ADNOC has signed a 15-year Sales and Purchase Agreement (SPA) with Osaka Gas, Japan’s leading utility company, for the supply of up to 0.8 million tons per annum (mtpa) of liquefied natural gas (LNG), Trend reports.
This agreement is the first long-term LNG sales deal between ADNOC and Osaka Gas.
The LNG will be sourced from ADNOC’s Ruwais LNG project in Abu Dhabi, which is expected to start commercial operations in 2028. The deal represents the fourth long-term SPA signed for the project, part of ADNOC’s efforts to expand its global LNG footprint. To date, 8 mtpa of Ruwais LNG’s 9.6 mtpa production capacity has been committed to buyers across Asia and Europe.
Rashid Khalfan Al Mazrouei, ADNOC Senior Vice President, Marketing, stated that the agreement strengthens ADNOC’s long-term energy partnership with Japan and supports the company’s strategy to meet growing global LNG demand.
Under the agreement, LNG cargoes will be delivered to Osaka Gas and its subsidiary, Osaka Gas Energy Supply and Trading Pte. Ltd. in Singapore. The Ruwais LNG plant will be the first in the Middle East and Africa region to run on clean power, making it one of the lowest-carbon intensity LNG facilities globally.
ADNOC Gas also announced that it expects to acquire a 60% stake in the Ruwais LNG project in 2028, significantly increasing its LNG production capacity.