Market Chatter: Japan's Inpex Signs 15-Year LNG Supply Deal with Abu Dhabi National Oil Co.

MT Newswires Live07-07

Inpex (TYO:1605) signed a 15-year liquefied natural gas purchase deal with the Abu Dhabi National Oil Co, securing LNG supply from ADNOC's Ruwais LNG project in the Persian Gulf, Bloomberg News reported Tuesday.

Under the deal, the Japan-based oil company will buy about 1 million tons of LNG annually from the Ruwais project, slated to start commercial operations in 2028.

The deal comes after Japan imported less than 700,000 tons of LNG from the United Arab Emirates last year, accounting for about 1% of its total LNG imports.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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