Adnoc Extends JERA Contract, Signs Three-Year Deals with Several Trading Companies

18 September 2018: 

Abu Dhabi’s Adnoc LNG, formerly known as Adgas, has signed a memorandum of agreement to extend JERA’s Das Island supply after tough negotiations by both sides (see LNGWM, Nov ’17). Adnoc then did three-year deals with five trading companies, selling them supply beginning in April 2019.

As expected, JERA extended the contract for three years at sharply reduced offtake of 500,000 t/y or up to eight cargoes a year on a delivered basis beginning in April 2019. Pricing was done at a mid-11% slope against Brent with no constant, industry sources said.

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