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ADNOC LNG and ENN LNG in Talks for SPA for 1m mt/year of LNG for 15 Years

LNG

ADNOC LNG and ENN LNG are in discussions for a deal to supply 1m mt/year of LNG for 15 years according to S&P Global Commodity Insights.

  • The talks to develop their Head of Agreement are for a firm deal with possible pricing at around 12.6% slope to crude oil.
  • The HOA deal is non-binding on a DES basis linked to Dated Brent crude oil prices, according to a source. The deal could include flexibility for the buyers not necessarily reflected just in the pricing.
  • LNG supply is expected from the Ruwais project which will have two 4.8m mt/year LNG liquefaction trains and aiming to begin commercial operations in 2028.
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