Gulf and ADNOC ink multi-year LNG supply agreement
Gulf Development Plc, Thailand’s largest private power producer by market value, has signed a multi-year agreement with ADNOC, the UAE’s national energy company and a top global supplier of liquefied natural gas (LNG). The pact aims to strengthen LNG cooperation between the two firms, with the deal being led by Gulf’s CEO Disathat Panyarachun and ADNOC’s representative Al Muhairi.
The agreement follows ADNOC’s plans to supply 2 million tonnes of LNG annually to Gulf starting in 2027, as part of a broader strategy to enhance energy security in the region. The collaboration also includes ADNOC’s plans to expand its LNG terminal capacity to 5.2 million tonnes by 2022, reinforcing its position as a key player in the global gas market.
Gulf’s CEO emphasized the importance of this partnership in securing a stable LNG supply chain, noting that the agreement aligns with Thailand’s energy policies. Sarath Ratanavadi, Gulf’s chairman, highlighted the deal’s role in ensuring long-term energy security and supporting the country’s economic growth.
The agreement also reflects broader efforts by Gulf to diversify its energy portfolio, with a focus on sustainable and reliable energy sources. ADNOC’s commitment to increasing its LNG infrastructure further solidifies its role as a major supplier in the Asia-Pacific region.