Abu Dhabi National Oil Co PJSC (ADNOC) said Tuesday it had signed a new “multi-year” agreement to supply about two million metric tons per annum (MMtpa) of liquefied natural gas (LNG) to Thai gas-focused electricity developer Gulf Development Public Co Ltd starting 2027.
“The SPA [sale and purchase agreement] extends a partnership between ADNOC and Gulf Group established through their first LNG supply agreement signed in 2025 and builds on ADNOC Trading’s direct LNG deliveries to Asia”, ADNOC said in an online statement.
Last year’s agreement represents Gulf’s first purchase after receiving a license to import up to 6.4 MMtpa of LNG into the Southeast Asian country to fuel the company’s power plants, as announced by Gulf January 14, 2025.
Gulf chief executive Sarath Ratanavadi said the new agreement “reflects our strategy: a diversified, resilient LNG portfolio anchored by our trading business. By securing midstream infrastructure, shipping capacity and relationships with leading suppliers, we are strengthening every link of our value chain”.
Earlier this year ADNOC launched an “integrated commercial platform” for its LNG sales activities, combining the marketing activities of ADNOC Gas PLC and XRG PJSC, ADNOC’s international investment arm, with the trading activities of ADNOC Trading Ltd.
“Designed to enhance flexibility and shipping optionality, the move supports ADNOC Gas’ expanding LNG portfolio, including Ruwais LNG, and XRG’s international gas and infrastructure growth, while strengthening customer access globally”, ADNOC said July 6, adding the platform builds on its five decades of supplying LNG.
T]he platform will rank among the leading global LNG players, scaling up ADNOC and XRG’s capacity to optimize a growing and diverse LNG portfolio and reinforce Abu Dhabi’s position as a global energy trading center”, it added.
“ADNOC Gas’s existing commercial LNG arrangements remain unchanged, with the platform expected to create further upside for ADNOC Gas by supporting the optimization of its marketing activities for LNG volumes, including future Ruwais LNG volumes”, ADNOC said.
“This is complemented by XRG’s growing global LNG portfolio, supported by supply hubs and offices in London and Abu Dhabi.
“Long-term LNG marketing will be centralized under the combined platform, while ADNOC Trading will remain the counterparty for trading activities, with no change to existing customer interfaces. ADNOC Trading has built a significant third-party LNG portfolio within four years, and is ranked among the top global LNG financial traders, with offices in Abu Dhabi, Singapore and Geneva”.
ADNOC also has its own shipping arm, ADNOC Logistics and Services PLC (ADNOC L&S).
The United Arab Emirates through ADNOC aims to more than double its LNG production capacity by 2028 through the under-construction Ruwais LNG, which has a planned capacity of 9.6 MMtpa.