Under the SPA, Osaka Gas will buy up to 0.8 million metric tonnes per annum of LNG.
Moreover, LNG cargoes will be shipped to the destination ports of Osaka Gas and its Singapore-based subsidiary, Osaka Gas Energy Supply and Trading.
Adnoc said this SPA converts a previous heads of agreement into a definitive agreement and marks the first long-term LNG sales agreement between Adnoc and Osaka Gas.
The LNG supplies will be primarily sourced from the Ruwais LNG project, which is under development in Al Ruwais Industrial City, Abu Dhabi, and is scheduled to start commercial operations in 2028.
According to Adnoc, the SPA is the fourth signed for Ruwais LNG.
Other deals are with German gas importer Securing Energy for Europe (SEFE), Malaysia’s Petronas, and Germany’s EnBW.
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, the firm said.
In June 2024, Adnoc announced the final investment decision on the Ruwais project and the EPC award to the joint venture led by Technip Energies.
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 9.6 mtpa Al Ruwais LNG export plant.
Also, BP, Mitsui & Co., Shell, and TotalEnergies agreed to buy a 10 percent equity stake in Adnoc’s LNG export terminal.
The LNG project will more than double Adnoc’s existing UAE LNG production capacity to around 15 mtpa, as the company builds its international LNG portfolio.
Adnoc currently owns a 70 percent stake in Adnoc LNG, which currently produces about 6 mtpa of LNG from its facilities on Das Island.
