2023-05-02 07:00:33
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At least one billion dollars is the value of the agreement announced on May 1 by the UAE company ADNOC Gas to supply the French giant TotalEnergies with liquefied natural gas.
It is one of the few sources of liquefied natural gas (LNG) available in the short term.
The French multinational TotalEnergies has just signed an agreement with the gas company of the United Arab Emirates, ADNOC, until 2025, reports our correspondent in Dubai, Nicolas Keraudren. But against the background of the global energy crisis, this gas will not necessarily supply Europe, since it will be delivered to various export markets around the world “. The volumes that will be supplied have not been specified.
For the boss of ADNOC Gas, Ahmed Alebri, this agreement is in any case ” a further step for the global expansion strategy from the UAE company. This Gulf country, which has the seventh largest gas reserves in the world, hopes to triple its production capacity in the years to come and thus play a more important role in this market.
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LNG, an alternative to Russian gas
Last September, the United Arab Emirates signed a contract with Germany for the short-term delivery of LNG and diesel. European countries are increasingly relying on LNG as an alternative to Russian gas, following Russia’s invasion of Ukraine.
The question is particularly delicate for Germany, half of whose gas imports come from Russia. France, for its part, imported before the war in Ukraine nearly 17% of natural gas from Russia, according to the Ministry of Ecological Transition.
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In 2021, the United Arab Emirates produced 57 billion cubic meters of natural gas, or about 1.4% of global production, according to figures from BP Statistical Review of World Energy. The same year, according to the same source, the Emirates produced 8.8 billion cubic meters of liquefied natural gas, or 1.7% of world exports. The country hopes to reach an annual production of 15 million tons in the next few years, according to the Bloomberg agency.
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