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SCI99 Editor

Apr 21, 2025 15:07:59

ADNOC Signs First LT LNG SPA with China, Targeting Ruwais LNG Project

Abu Dhabi National Oil Company (ADNOC) has entered into a landmark long-term LNG Sale and Purchase Agreement (SPA) with ENN Natural Gas, a major Chinese gas player. This SPA represents the largest long - term LNG SPA between the UAE and a Chinese partner, ushering in a new phase of collaboration between the two nations in the energy sector.

Under the terms of the 15 - year agreement, ADNOC will supply approximately 1 Mtpa of LNG to ENN, primarily sourced from its under - construction Ruwais LNG project located in Abu Dhabi’s Al Ruwais Industrial City. The Ruwais LNG project, set to commence operations in 2028, is poised to become one of the lowest-carbon intensity LNG plants globally, powered by clean energy and advanced AI-driven technology. This project is integral to ADNOC’s strategy of expanding its global reach and reinforcing its position as a reliable supplier of lower-carbon LNG.

The execution of this SPA formalizes the Heads of Agreement (HOA) that was signed in December 2023, marking the first long-term LNG HOA from the Ruwais LNG project. With up to 8 Mtpa of its 9.6 Mtpa capacity already committed to customers worldwide, including ENN, Ruwais LNG further solidifies ADNOC’s growing global footprint and its commitment to meeting the growing demand for cleaner energy. According to public information, Ruwais LNG has already secured contracts with seven buyers, totaling 6 Mtpa, with five of them being Asian buyers and two European buyers.

In addition, ADNOC has been actively strengthening its ties with the Chinese market. In April 2025, ADNOC opened a sales and marketing office in China, underscoring its long-term commitment to building robust business relationships with the world’s second-largest economy. This move reflects ADNOC’s recognition of China’s pivotal role in its future market strategy and its determination to expand its presence in the Asian market.

Longterm Agreements Signed for Ruwais LNG Published by ADNOC

Buyer

Contract Duration(Y)

Contract type

Sign

Mtpa

EnBW

15

SPA

May-24

0.6

SEFE

15

SPA

Nov-24

1.0

PETRONAS

15

SPA

Dec-24

1.0

Osaka Gas Co., Ltd.

15

SPA

Feb-25

0.8

Mitsui & Co., Ltd.,

15

SPA

Apr-25

0.6

ENN Natural Gas

15

SPA

Apr-25

1.0

IndianOil

15

HOA

Sep-24

1.0

Total

6.0

Source: ADNOC, SCI

 

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