Latest news with #FrédéricBarnaud
Arabian Post
a day ago
- Business
- Arabian Post
ADNOC Gas Seals AED 1.5 Billion LNG Deal with SEFE
Abu Dhabi National Oil Company's subsidiary ADNOC Gas Plc has signed a three‑year agreement to deliver 0.7 million tonnes of liquefied natural gas to Germany's state‑owned SEFE Securing Energy for Europe. Valued at AED 1.5 billion, the contract begins this summer and sees LNG shipped from the Das Island facility. The arrangement builds upon a long‑term contract established last year between the two companies, offering SEFE greater flexibility to dispatch the volumes across multiple European markets. For ADNOC Gas, it underscores ambitions to broaden its global LNG footprint and strengthen ties with European partners. Das Island's liquefaction plant, with a 6 million tonnes per annum capacity and over 3,500 cargoes dispatched since 1977, remains a key strategic asset in ADNOC Gas's export network. ADVERTISEMENT The step aligns with SEFE's drive to diversify energy sources following the loss of the majority of its Russian gas imports in 2022. With an annual obligation of around 200 TWh across Germany, the UK and other markets, the company has pursued deals with Azerbaijan's SOCAR and US firms such as Venture Global. The new agreement also resonates with diplomatic frameworks like the UAE‑Germany Energy Security and Industry Accelerator, signed in 2022, and a 2024 joint declaration with Baden‑Württemberg, enhancing the energy security and transition agenda. Fatema Al Nuaimi, CEO of ADNOC Gas, stressed the deal's importance for bolstering Europe's supply security and underlined the company's evolution as a reliable global energy provider, signalling continued strategic progress. SEFE's Chief Commercial Officer Frédéric Barnaud noted that the medium‑term contract complements the prior long‑term deal with ADNOC, reinforcing their two‑decade‑long partnership and enhancing SEFE's flexible supply model amid market volatility. Analysts view the contract as mutually beneficial: for Europe, it secures diversified gas supplies beyond pipeline dependency; for ADNOC Gas, it consolidates its role in the global LNG market ahead of its Ruwais LNG project, which aims to double its export capacity by 2028. Europe's LNG demand remains structurally high as governments accelerate energy transition strategies and phase out coal and Russian pipeline imports. Germany has fast‑tracked floating regasification terminals to absorb increasing LNG volumes, aligning infrastructure with new supply agreements. With the first shipments slated for summer and SEFE retaining destination choice, market observers expect swift integration into Europe's gas supply chain. ADNOC Gas is concurrently investing in technology upgrades, including AI‑powered optimisation at Das Island, building on its reputation for operational efficiency. As Germany speeds its transition away from Russian energy, this contract signifies more than a commercial transaction: it marks a strategic pivot in global LNG trade, with the UAE emerging as an alternative anchor supplier to European markets.
Gulf Today
6 days ago
- Business
- Gulf Today
Adnoc Gas enters into three-year LNG supply agreement with Germany's SEFE
ADNOC Gas Plc and its subsidiaries (together referred to as 'ADNOC Gas' or the 'Company') (ADX symbol: ADNOCGAS / ISIN: AEE01195A234) announced today that it has entered into a three-year liquefied natural gas (LNG) supply agreement with Germany's SEFE Securing Energy for Europe, for the delivery of 0.7 million tonnes of LNG with deliveries commencing this year. The agreement, valued at approximately $400 million (AED1.5 billion) over its three-year term, highlights ADNOC Gas' continued expansion into global markets, with LNG supplied from ADNOC Gas' Das Island liquefaction facility – a key asset in the company's portfolio. With a production capacity of 6 mtpa, Das Island's LNG plant has shipped over 3,500 LNG cargoes worldwide since starting operations in 1977, strengthening ADNOC Gas' long-term relationships with key global energy partners. Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said, 'This agreement marks a significant step in strengthening our long-standing partnership with SEFE and reinforces ADNOC Gas' role as a reliable and responsible global energy provider, committed to supporting Germany's energy security. It also reflects the strong progress we are making in delivering our strategic objectives and demonstrates the confidence our partners, investors, and stakeholders place in our ability to create long-term value in a dynamic energy landscape.' The agreement builds on the ongoing strategic collaboration between the UAE and Germany, including the 2022 Energy Security and Industry Accelerator (ESIA) pact and the 2024 Joint Declaration with the state of Baden-Württemberg, both aimed at fostering energy security and sustainable fuel development. Frédéric Barnaud, Chief Commercial Officer of SEFE, said, 'Over the past two decades, we've built a strong partnership with ADNOC, and we value our relationship with such a reputable and reliable supplier. This new medium-term LNG contract builds on the long-term supply agreement with ADNOC that we signed last year, thereby adding another flexible source of LNG to our portfolio – to the benefit of both Europe's security of supply and our global market trading activities.' ADNOC Gas is a key player in ADNOC's strategy to enhance its natural gas production capacity and expand global LNG exports. As a crucial transitional fuel, natural gas offers lower carbon emissions compared to other fossil fuels and serves as an important raw material in industrial value chains. SEFE is committed to ensuring energy security across Germany and Europe by expanding its international portfolio and strengthening its global partnerships. As part of this commitment, SEFE collaborates with leading LNG and natural gas producers around the world to ensure diversified and reliable energy sources for Germany and beyond. WAM
