Arab News Japan

TOKYO: Abu Dhabi’s ADNOC Gas said on Thursday it has signed a five-year deal to supply liquefied natural gas (LNG) to Japan Petroleum Exploration Co (Japex).

The deal is valued at between $450 million to $550 million, ADNOC Gas said, without providing LNG volumes or timing for the shipments start.

The deal follows Japanese Prime Minister Fumio Kishida’s visit to the UAE and other Gulf states in July, which focused on securing energy supplies for Japan, which remains highly dependent on oil and gas imports.

ADNOC has previously said that Japan imports approximately 25% of its crude oil from the UAE, making it ADNOC’s largest international importer of oil and gas products.

In April, ADNOC signed two agreements with Japanese companies Kawasaki and Japan Organization for Metals and Energy Security to boost low-carbon hydrogen value in order to reduce carbon emission in Japan and the UAE. The deal was witnessed by Japan’s Minister of Economy, Trade, and Industry NISHIMURA Yasutoshi.  

*With Reuters