The UAE's main oil and gas company, ADNOC, expanded its global LNG business this week with its first US acquisition. Just two days after ADNOC announced it had secured a 11.7% stake in NextDecade's Texas-based LNG project it also confirmed that it had agreed to buy a 10% stake in an LNG project in Mozambique.
The Abu Dhabi-based major wants to diversify investments in natural gas which emits fewer emissions "compared to other fossil fuels", its executive director for low carbon solutions and international growth, Musabbeh Al Kaabi said.
Over in Asia, Tokyo Gas sealed a deal to buy a 20 percent stake in Philippines-based First Gen LNG. While Singapore's offshore marine and energy contractor, Seatrium, secured a favoured customer contract with Hyundai LNG Shipping. It was Seatrium's first long-term agreement with the Korean multinational for the repair and upgrading of its LNG carriers.
Here are the deals that made the news this week:
Grain LNG for sale as National Grid issues fundraise to boost net zero push
ADNOC continues LNG buying spree with Mozambique stake
ADNOC makes debut US acquisition with 11.7% stake in NextDecade’s LNG project
Tokyo Gas to acquire 20% stake in First Gen LNG
MOL and Jera seal another charter deal for newbuild LNG carrier
Photo credit: Shutterstock
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