Abu Dhabi’s ADNOC Gas and Japan’s JERA Global Markets signed a liquefied natural gas (LNG) agreement valued between $500-700 million, the companies said on Wednesday.

JERA Global Markets, a joint venture trading unit of Japan’s JERA and France’s EDF Trading, said the contracted LNG volumes will be supplied from ADNOC Gas’ Das Project and will be delivered to JERA Global Markets’ global supply portfolio.

The contract duration is for two years from 2024 and ADNOC Gas will deliver six cargoes per year – or about 400,000 metric tons – on a delivered-ex-ship (DES) basis to Japan, said a spokesperson at JERA in Tokyo.

The supply deal follows several others ADNOC Gas signed in Asia, including in September with PetroChina International, in August with Japan Petroleum Exploration (Japex) and a deal with India Oil Corp, as well as one with France’s TotalEnergies Gas and Power.

ADNOC Gas said it has signed LNG supply deals worth between $9.4 billion and $12 billion since its shares debuted on the Abu Dhabi Securities Exchange in March.

A large portion of the value is the 14-year India Oil Corp deal reached in July worth between $7 billion and $9 billion.

Reuters