Friday 18 January 2019

Adnoc wins 15-year Dubai gas supply deal

ABU DHABI, February 6, 2018

The Abu Dhabi National Oil Company (Adnoc) has signed a 15-year gas sales agreement with the Dubai Supply Authority (Dusup) for the supply of natural gas, to help meet the emirate’s energy needs.

The agreement was signed at Adnoc’s headquarters by Sheikh Ahmed bin Saeed Al Maktoum, Director-General of Dusup and Dr Sultan Ahmed Al Jaber, Minister of State and Adnoc Group CEO.

Speaking at the signing ceremony, Al Maktoum said: "Twenty years ago this month I had the privilege to sign the gas supply agreement drawn up under the direction of the Founding Father, the Late Sheikh Zayed bin Sultan Al Nahyan, and the Vice President, Prime Minister and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, that resulted in Adnoc constructing the Taweelah – Jebel Ali pipeline and the beginning of gas deliveries from Adnoc to Dubai in 2001."

"It gives me great pleasure to sign again for Dusup for the continuation of the contract. In doing so, we believe that we are not only extending energy cooperation between Abu Dhabi and Dubai in time, but also building on the foundations, originally laid in 1998 and reinforced over the years, to expand the breadth and depth of our energy relations now and in the future," he added.

Dr Al Jaber said this agreement underscores Adnoc’s commitment to meeting the growing energy needs of the UAE.

"We will harness our gas resources for the benefit of the nation, working in close collaboration with our customers and partners, by making smart investments in the development of additional gas reserves. This will enable us to deliver against our strategic objective of providing a sustainable and economic supply of gas to the UAE," he added.

Adnoc said as part of its 2030 smart growth strategy, it plans to access undeveloped tight reservoirs, tap into its gas caps and expand sour gas production, ensuring that it delivers a sustainable and economic gas supply to meet the UAE’s growing demand for energy.

In addition, it has commenced an exploration drilling programme to explore for, and appraise, the potential of individual gas deposits in tight reservoirs, it added.-TradeArabia News Service

Tags: Dubai | Adnoc | gas supply | Dusup |

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