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ADNOC Gas has introduced an settlement, valued between $450 million (AED 1.65 billion) and $550 million (AED 2 billion), to produce Liquefied Natural Gas (LNG) to PetroChina International Company Limited (PCI).
The deal, with one of many main oil and gasoline producers and distributors in China, signifies ADNOC Gas’ rising world presence, notably within the East and South Asian markets.
LNG serves as an vital uncooked materials in industrial worth chains, and its versatility permits its utility throughout a broad vary of industries, fostering financial progress.
Ahmed Mohamed Alebri, Chief Executive Officer of ADNOC Gas, stated the settlement additional strengthens its presence in one of many world’s fastest-growing gasoline markets.
Commenting on the deal, Wu Junli, Chairman of PCI, stated it “signifies an extension of the cooperation between our two companies and reaffirms PCI’s commitment to ADNOC Gas as our global partner”.
This settlement follows a number of important worldwide LNG gross sales agreements, together with these with Japan Petroleum Exploration Co., Ltd. (JAPEX), TotalEnergies Gas and Power, and India Oil Corporation (IOCL), underscoring ADNOC Gas’ place as a worldwide export companion of selection.
ADNOC Gas continues to leverage alternatives arising from ADNOC’s built-in gasoline masterplan, which hyperlinks each a part of the gasoline worth chain within the UAE, making certain a sustainable and economical provide of pure gasoline to satisfy native and worldwide demand.
