Adnoc Inks LNG Deals with Vitol, Total
Adnoc has signed LNG supply agreements with global commodities trader Vitol and France's Total, the UAE state company said on November 11 in a statement.
Adnoc LNG, a unit of Adnoc, has struck a six-year supply agreement with Vitol for the sale of 1.8mn metric tons/year of LNG post-2022. It also reached a two-year deal with Total for 0.75mn mt/yr of LNG in 2021 and 2022.
“We are pleased to partner with both Vitol and Total on these major deals as they will create reliable, long-term benefits for our company and shareholders. Through collaboration and by adopting a partnership approach, we are driving new growth opportunities for Adnoc and are maximising the value of our nation’s resources,” Fatema Al Nuaimi, CEO of Adnoc LNG, said.
Al Nuaimi said LNG supported the transition to clean energy, especially in many Asian markets where switching to gas from dirtier fuels like coal will result in significant environmental gains.