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ADNOC Secures Major LNG Supply Deals with Chinese Buyers
China’s ENN Natural Gas and state-run Zhenhua Oil have each signed long-term liquefied natural gas (LNG) supply agreements with the Abu Dhabi National Oil Company (ADNOC), expanding the UAE’s energy footprint in Asia.
ENN Natural Gas announced on Saturday that it will receive 1 million metric tons of LNG annually from ADNOC for 15 years—marking the Emirati company’s largest LNG deal with a Chinese buyer. ENN said the agreement will boost energy supply security and diversify its sourcing. The Shanghai-listed company, which owns a 34.28% stake in ENN Energy, is also planning to acquire the remaining shares for $7.65 billion.
Zhenhua Oil, meanwhile, signed its first long-term LNG contract with ADNOC, a five-year deal beginning in 2026. It covers up to 12 cargoes annually, delivered to the company’s under-construction terminal in Rudong, Jiangsu province, expected to begin operations in early 2026. Pricing is tied to both the Japan Korea Marker and Brent crude benchmarks, according to a source familiar with the matter.
These deals were signed during ADNOC CEO Sultan Al Jaber’s visit to Beijing, where he opened the company’s new Chinese office. During the visit, ADNOC reportedly signed three LNG supply agreements with Chinese firms, though details remain undisclosed.
Zhenhua and ADNOC already cooperate in Abu Dhabi, and these new deals mark a significant expansion of their partnership into LNG. Both firms did not issue statements over the weekend.
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