China's ENN inks 15-year LNG supply deal with ADNOC

ENN LNG (Singapore) Pte Ltd, said on Monday that it has signed a long-term LNG Sale and Purchase Agreement ("SPA") with ADNOC, the largest LNG deal by volume ever signed between the UAE and a Chinese partner.

Under the SPA, ADNOC will supply approximately one million metric tons per annum (mtpa) of LNG to ENN NG for a period of 15 years. The LNG will primarily be sourced from ADNOC's Ruwais LNG project, said ENN LNG, a wholly owned subsidiary of ENN Natural Gas Co Ltd.

Against the backdrop of deep shifts in global gas supply dynamics and heightened price volatility, the company believes the SPA further enhances the resilience of its energy supply chain and diversify the company's global portfolio.

The signing of the SPA marks a concrete step in ENN's ongoing efforts to expand its resource portfolio and strengthen its capabilities in managing international energy resources. It also lays a solid foundation for the resource synergy envisioned under the company's ongoing capital restructuring, it said.