ADNOC Gas has signed a five-year liquefied natural gas (LNG) supply agreement with Japan Petroleum Exploration (JAPEX) as the country pushes towards reducing its reliance on non-renewable resources.
The agreement, valued between $450 million (AED1.65 billion) and $550 million (AED2 billion), builds on the long-standing bilateral relationship between the two countries.
"Japan is one of the UAE’s largest and most important energy partners," highlighted Ahmed Alebri, CEO of ADNOC Gas, adding that the "agreement reinforces ADNOC Gas’ position as a global LNG export partner and highlights the Company’s growing global presence, particularly in the Asian LNG market."
Natural gas plays a crucial role as a transitional fuel with lower carbon emissions compared to other fossil fuels and also serves as an important raw material in industrial value chains.
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