ENN Natural Gas announced the SPA in a statement on Saturday.
Under the deal, ENN will buy 1 million metric tons per annum of LNG for 15 years.
The LNG supplies will primarily be sourced from Adnoc’s planned LNG terminal in Al Ruwais Industrial City, Abu Dhabi.
According to ENN, the long-term contract adopts a pricing model linked to oil prices.
ENN claims this marks the largest LNG deal by volume ever signed between the UAE and a Chinese partner.
This SPA follows a heads of agreement that the two firms signed in December 2023.
Adnoc said at the time that ENN LNG (Singapore), a unit of ENN Natural Gas, will buy 1 mtpa of LNG for 15 years, with the deliveries expected to start in 2028, upon launch of the Al Ruwais facility’s commercial operations.
The UAE energy giant recently also signed a 15-year SPA for Al Ruwais LNG volumes with Japan’s trading house Mitsui & Co, the fifth long-term LNG SPA for the Ruwais LNG project.
To date, up to 8 mtpa of the Ruwais LNG project’s 9.6 mtpa production capacity has been committed to international buyers across Asia and Europe through long-term arrangements, according to Adnoc.
Mitsui is also one of the international partners in the Ruwais LNG project.
Adnoc announced the final investment decision on the Ruwais project and the EPC award to the joint venture led by Technip Energies in June last year.
BP, Mitsui, Shell, and TotalEnergies agreed to buy a 10 percent equity stake in Adnoc’s LNG export terminal.
Moreover, Adnoc’s gas and LNG unit, Adnoc Gas, said in November 2024 that it expects to splash about $5 billion to buy a 60 percent operating interest from its parent Adnoc in the Al Ruwais LNG export plant.
