ADNOC signs 15-year LNG deal with INPEX

Abu Dhabi National Oil Company signed a 15-year Sales and Purchase Agreement (SPA) with Japan's Inpex to supply 1 million tonnes per annum (mtpa) of LNG from the Ruwais LNG project. The deal brings long-term commitments for the 9.6 mtpa Ruwais LNG project to over 90% of capacity, with nearly 23% committed to Japanese customers. It is the first long-term LNG agreement following the launch of Abu Dhabi National Oil Company and XRG's integrated global LNG marketing and trading platform. The Ruwais LNG project, scheduled to start commercial operations in 2028, will be the first LNG export facility in the Middle East and Africa to operate on clean power. ADNOC Gas expects to acquire Abu Dhabi National Oil Company's 60% stake in the project at an estimated $5 billion in 2028.