KUALA LUMPUR: Abu Dhabi National Oil Co (Adnoc) has agreed to sell liquefied natural gas (LNG) to Malaysia’s Petroliam Nasional Bhd (PETRONAS) for 15 years starting 2028, expanding the Middle East company’s efforts to become a major supplier of the fuel.
The agreement for one million tonnes a year converts a preliminary deal to a definitive sales agreement, Adnoc said in a statement. Adnoc will supply the fuel primarily from an LNG export facility it’s building in Ruwais near Abu Dhabi.
The deal follows a similar accord with Germany’s SEFE last month. The United Arab Emirates, and other Middle Eastern states, are ramping up gas projects as they see the fuel as a key bridge in the transition to cleaner energy.
Adnoc is building the multi-billion-dollar Ruwais LNG project and has taken stakes in export facilities in the United States and Africa. — Bloomberg
