Abu Dhabi National Oil Company (ADNOC) has entered into long-term agreements to supply liquefied natural gas (LNG) to China’s ENN Natural Gas and Zhenhua Oil.
ENN Natural Gas announced via WeChat that its 15-year contract with ADNOC will provide approximately one million metric tonnes of LNG annually, primarily sourced from ADNOC’s Ruwais LNG project.
Reuters reported ENN’s statement: “The deal marks a key step for ENN towards enhancing a stable energy supply chain and diversifying supplies.”
ENN Natural Gas, listed in Shanghai and holding a 34.28% stake in ENN Energy, is pursuing acquisition of the remaining shares of the clean energy distributor for approximately $7.65 billion.
Separately, state-owned Zhenhua Oil has secured a five-year agreement with ADNOC, commencing in 2026, for the delivery of up to 12 LNG cargoes per year.
A Chinese industry source indicated that LNG pricing will be on a delivered basis to Rudong in Jiangsu province, with some shipments linked to the Japan Korea Marker and others to Brent oil prices.
Zhenhua Oil, already collaborating with ADNOC in Abu Dhabi, is developing its first LNG terminal in Rudong, with operations expected to start in the first quarter of 2026.
Abu Dhabi National Oil Company (ADNOC), established in 1971, is the state-owned oil and gas company of the United Arab Emirates, headquartered in Abu Dhabi. It ranks as the world’s 12th largest oil company by production, with an oil production capacity exceeding 4 million barrels per day in 2021 and plans to reach 5 million by 2030.
ENN Natural Gas, headquartered in China and listed on the Shanghai Stock Exchange, is a major private energy company specializing in natural gas distribution, sales, and related services. It holds a 34.28% stake in ENN Energy, a Hong Kong-listed clean energy distributor, and is pursuing a $7.65 billion buyout of the remaining shares.
Zhenhua Oil is a state-owned Chinese oil and gas trading company, focusing on crude oil, refined products, and LNG. It collaborates with ADNOC in Abu Dhabi, including a 4% stake in ADNOC’s onshore oil operations transferred in 2018. Zhenhua is developing its first LNG terminal in Rudong, Jiangsu province, set to commence operations in Q1 2026, aligning with its five-year LNG supply agreement with ADNOC starting in 2026.