ADNOC Secured Sales and Purchase Agreement for Ruwais LNG Project

SEATTLE (Oil Monster):  Abu Dhabi National Oil Company (ADNOC) announced signing of the first long-term sales and purchase Agreement (SPA) for the lower-carbon Ruwais liquefied natural gas (LNG) project. The announcement to this effect was made during the recently concluded Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC 2024).

The SPA marks the conversion of the previous Heads of Agreement between ADNOC and SEFE Marketing and Trading Singapore Pte Ltd. announced in March into a definitive agreement. The 1 million tonnes per annum (MTPA) contract will be valid for a period of 15 years. Under the agreement, the LNG will be primarily sourced from the Ruwais LNG project, which is expected to start deliveries in 2028.

The agreement is expected to help Germany and the European region to diversify their energy sources, by accelerating its decarbonization journey.

Commenting on the agreement, Fatema Al Nuaimi, Executive Vice President, Downstream Business Management at ADNOC said that the company is pleased to support Germany’s energy security through this landmark agreement. ADNOC will continue to reinforce its role as a reliable global supplier of natural gas, he added.