ADNOC and XRG have signed a strategic collaboration agreement with Mitsui to explore opportunities across liquefied natural gas (LNG), crude oil, sulfur, shipping and chemicals, as well as international energy investments through XRG.
The agreement establishes a framework for collaboration in areas including crude oil market development and long-term supply, LNG sales and optimization, sulfur procurement and logistics, and shipping solutions for LNG, ammonia, sulfur and other commodities.
Through XRG, ADNOC and Mitsui will also evaluate international investment opportunities across the energy value chain, alongside potential collaboration on lower-carbon fuels and chemicals, including methanol and other projects at TA'ZIZ.
“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,” said Nasser Al Muhairi, Acting CEO of ADNOC Downstream Industry, Marketing & Trading, and Chairman of Ruwais LNG.
“This strategic collaboration agreement reaffirms Mitsui’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 formalize a broad-based and multifaceted framework for future collaboration,” added Kenichiro Yamaguchi, Senior Executive Managing Officer, Mitsui.
Japan is one of ADNOC's most important strategic markets, with the company supplying around a third of the country's crude imports.