ADNOC has signed a 15-year sales and purchase agreement with Japan's INPEX for the supply of 1 million tonnes per annum of liquefied natural gas (LNG), primarily from the Ruwais LNG project in Abu Dhabi.
The agreement brings long-term commitments for the 9.6 mtpa Ruwais LNG project to more than 90% of its capacity, with nearly 23% committed to Japanese customers.
The deal is the first long-term LNG agreement announced following the launch of ADNOC and XRG's integrated global LNG marketing and trading platform.
“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. 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,” said Nasser Al Muhairi, Acting CEO of ADNOC Downstream Industry, Marketing & Trading, and Chairman of Ruwais LNG.
The LNG will be primarily sourced from the Ruwais LNG project, which is under development in Al Ruwais Industrial City and is scheduled to start commercial operations in 2028.
The Ruwais LNG project comprises two liquefaction trains, each with a capacity of 4.8 mtpa. The plant is planned to operate on clean power and use artificial intelligence and other technologies in its operations.
ADNOC Gas said in November 2024 that it expected to acquire ADNOC's 60% stake in the Ruwais LNG project at cost, estimated at around $5 billion, in 2028. Upon completion, the project is expected to more than double ADNOC Gas' existing operated LNG production capacity to around 15 mtpa.
INPEX is also an upstream partner of ADNOC, holding participating interests across a number of Abu Dhabi offshore and onshore concessions.
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