Key facts
- ADNOC and Inpex have entered into a 15-year liquefied natural gas (LNG) supply agreement.
- The deal will see Inpex receive 1 million tonnes per annum (mtpa) of LNG.
- Supplies are set to begin in 2028 from ADNOC's Ruwais LNG project.
- The Ruwais LNG project is designed to be one of the lowest-carbon-intensity LNG facilities worldwide.
- Approximately 90% of the Ruwais LNG project's 9.6 mtpa capacity is already contracted.
Abu Dhabi National Oil Company (ADNOC) has finalized a 15-year liquefied natural gas (LNG) supply agreement with Japan's Inpex, a deal set to commence in 2028. Under the terms, Inpex will receive 1 million tonnes per annum (mtpa) of LNG from ADNOC's Ruwais LNG project, which is currently under development and slated to begin operations in the same year.
The agreement is expected to further solidify the existing partnership between ADNOC and Inpex, aligning with Inpex's strategic goals to diversify and enhance its LNG portfolio. The Ruwais LNG project is being developed with a focus on environmental sustainability, aiming to be one of the lowest-carbon-intensity LNG export facilities in the Middle East and Africa (MENA) region, utilizing clean power for its operations.
ADNOC announced that approximately 90% of the Ruwais LNG project's total production capacity of 9.6 mtpa has already been secured by international buyers across Asia and Europe through long-term contracts. This deal with Inpex builds upon ADNOC's extensive energy partnership with Japan and underscores market confidence in the Ruwais project.
This development follows a recent trend of Japanese companies securing long-term LNG supplies, with Japan's JERA having signed a similar 20-year contract with Malaysia's Petronas last month.