ADNOC Trading, a unit of the UAE’s oil and gas giant Abu Dhabi National Oil Company (ADNOC), has signed a liquefied natural gas (LNG) trading supply agreement with Thailand’s Gulf LNG.
Sourced from ADNOC Gas, the first shipment under the deal is said to be a milestone as it marks the first direct LNG from ADNOC Trading to Thailand. The UAE player says this will strengthen its energy partnerships across Southeast Asia and its commitment to being a reliable global energy supplier.
As part of a joint venture with the state-owned PTT, Gulf holds the rights to develop Phase 3 of the Map Ta Phut industrial port development project located in Thailand’s Rayong province. The company has been granted rights to design, build, and operate an LNG terminal with an annual capacity of up to 10.8 million metric tonnes as part of the project.
Meanwhile, ADNOC recently signed the third sales and purchase agreement (SPA) for its lower-carbon Ruwais LNG project with EnBW Energie Baden-Württemberg ( EnBW ). The first formal deal was signed with SEFE Marketing and Trading and the second with Petronas .
In mid-December, ADNOC’s newly established investment arm XRG joined forces with BP to form Arcius Energy , a new regional gas platform, which will initially focus on the development of gas assets in Egypt.