Adnoc and its international investment company XRG have signed a Strategic Collaboration Agreement (SCA) with Mitsui to expand cooperation across the global energy value chain.
The agreement was signed during the visit of Dr Sultan Al
Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy to
Japan, Adnoc Managing Director and Group CEO, and XRG Executive Chairman, to
Japan.
The partnership establishes a framework for collaboration in
LNG, crude oil, sulfur, shipping and chemicals, while also exploring
international energy investment opportunities through XRG.
The companies will work on crude market development,
long-term supply, LNG sales and optimisation, sulfur logistics, and shipping
solutions for LNG, ammonia and other commodities.
They will also assess opportunities in lower-carbon fuels
and chemicals, including methanol and projects at TA'ZIZ. Japan remains a key
market for Adnoc, receiving around one-third of its crude oil exports.
Nasser Al Muhairi, Acting CEO of Adnoc Downstream Industry, Marketing & Trading,
and Chairman of Ruwais LNG, said: “Japan is a cornerstone market for Adnoc, and
Mitsui a longstanding and trusted partner. This agreement broadens our
collaboration across the energy value chain – from LNG, crude oil and sulfur to
shipping and chemicals – and, through XRG, opens new opportunities for
international investment and lower-carbon growth. By combining our
complementary strengths, we aim to enhance supply resilience, deliver greater
value to our customers and unlock sustainable, long-term growth across Asia.”
Kenichiro Yamaguchi, Senior Executive Managing Officer, Mitsui, said: “This
Strategic Collaboration Agreement reaffirms Mitsui & Co.’s steadfast
commitment to the UAE. We are confident that it will pave the way for an even
stronger partnership with Adnoc and XRG across the energy and chemicals value
chain. Mitsui & Co. respects the long and successful relationship with Adnoc
since the 1970s, and we sincerely appreciate this opportunity to formalise a
broad-based and multifaceted framework for future collaboration." -OGN/TradeArabia News Service
