Adnoc Signs 15: year supply deal with Germany's EnBW

EnBW Energie Baden Wuerttemberg AG

16/12/2024 15:21

DUBAI, Dec 16 (Reuters) - Abu Dhabi National Oil Company
has signed an agreement to supply German utility company EnBW
 EBKG.DE  with 600,000 tons per annum of liquefied natural gas
from its Ruwais project for 15 years, ADNOC said on Monday.
The sales and purchase agreement (SPA), which will see the
United Arab Emirates state oil giant ship LNG starting in 2028,
finalises a heads of agreement reached in May.
    More than 8 million tons per annum (mtpa) of Ruwais' total
9.6 mtpa expected production has been committed through
long-term agreements, ADNOC said.
    ADNOC sees LNG and natural gas, alongside petrochemicals and
renewables, as pillars of its future growth. The Ruwais project
will more than double the UAE's existing LNG production capacity
to 15 million mtpa.
    The deal is ADNOC's third binding LNG supply deal from
Ruwais, and the second to Germany following one signed with
Germany's state-owned Securing Energy for Europe (SEFE) last
month for 1 mtpa.
    ADNOC also signed a binding deal to supply 1 mtpa to
Malaysian state energy firm Petronas this month.
In July, ADNOC awarded Shell, BP, TotalEnergies and Japan's
Mitsui each a 10% stake in the Ruwais LNG project, for which
$5.5 billion worth of engineering, procurement and construction
contracts were signed in June.
     

(Reporting by Yousef Saba, Editing by Franklin Paul)
((mailto:Yousef.Saba@thomsonreuters.com; +971562166204; https://x.com/YousefSaba))