In July 2022, the “Total Energy” and ADNOC groups signed a “global strategic partnership agreement on cooperation in the field of energy”, during a visit by UAE President Sheikh Mohammed bin Zayed Al Nahyan to Paris.
The UAE’s ADNOC Gas announced Monday the signing of an agreement worth $1 billion to supply the French Total Energy group with liquefied natural gas for a period of three years, at a time when European countries are seeking to find alternatives to Russian energy sources.
ADNOC Gas said in a statement, a copy of which was received by Agence France-Presse, that, according to the agreement, it will “export liquefied natural gas to various export markets around the world.”
ADNOC Gas, a subsidiary of the UAE government-owned ADNOC Group, signed an agreement worth between $1 and $1.2 billion with Total Energy Gas & Power Ltd., a subsidiary of the French Total Energy and headquartered in Britain.
The statement did not specify the quantities of gas to be exported.
European countries are seeking to diversify their sources of energy and are relying more and more on liquefied natural gas as an alternative to Russian gas, after the Russian invasion of Ukraine.
In July 2022, the “Total Energy” and ADNOC groups signed a “global strategic partnership agreement on cooperation in the field of energy”, during a visit by UAE President Sheikh Mohammed bin Zayed Al Nahyan to Paris.
And last September, Germany, seeking to diversify its energy sources, reached an important agreement with the UAE, which is rich in oil and gas, stipulating that the Gulf country will supply the European country with liquefied gas and diesel in 2022 and 2023, during a visit by Chancellor Olaf Scholz to Abu Dhabi.
In 2021, the UAE produced approximately 57 billion cubic meters of natural gas, or 1.4 percent of global production, according to BP statistics.
In the same year, the UAE exported about 8.8 billion cubic meters of liquefied natural gas, representing about 1.7 percent of the volume of global exports, according to the British International Energy Company.
The French Total group has been active in the oil and gas fields in Abu Dhabi since 1939.
