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State-owned Adnoc said on Monday that Adnoc Trading’s LNG desk has recently signed a supply agreement with Thaliand’s Gulf LNG, a unit of Gulf Energy Development.
“The first cargo of LNG under this agreement, which was sourced from Adnoc Gas, marks the first direct LNG from Adnoc Trading to Thailand, strengthening our energy partnerships across Southeast Asia,” the company said via social media.
Adnoc did not provide further details.
LNG Prime invited Adnoc’s gas and LNG unit, Adnoc Gas, to comment on the matter.
A spokesman for Adnoc Gas said the company does not comment on commercial matters.
Adnoc is heavily investing in its LNG business.
In June, Adnoc announced the final investment decision on the Ruwais project and the EPC award to a joint venture led by France’s Technip Energies.
Adnoc will retain a 60 percent majority stake and sell it to its unit Adnoc Gas for about $5 billion.
The LNG project will more than double Adnoc’s existing UAE LNG production capacity to around 15 mtpa, as the company builds its international LNG portfolio.
Adnoc currently owns a 70 percent stake in Adnoc LNG, which currently produces about 6 mtpa of LNG from its facilities on Das Island.
Hin Kong Power
Back in 2020, Gulf Energy Development secured licences from the government of Thailand to import LNG as part of its plans to reduce power prices in the country.
Hin Kong Power also won a license to import 1.4 mtpa of LNG to supply the Hin Kong power plant.
Gulf Energy Development and Ratch launched the first gas-fueled unit at their Hin Kong power plant earlier this year following the arrival of the maiden LNG cargo at PTT’s second Map Ta Phut LNG terminal.
Hin Kong Power, a joint venture owned 51 percent by Ratch and 49 percent by Gulf Energy, received on February 28 its first LNG shipment at PTT’s Map Ta Phut Terminal 2 (LMPT 2), also known as the Nong Fab LNG terminal.
Last year, a unit of Geneva-based energy and LNG trader, Gunvor, signed a term LNG supply deal with the JV to supply it with about 0.5 million tons per year of LNG on a DES basis.
According to Gulf Energy and Ratch, the first LNG cargo under this deal of some 62,000 tons of LNG was delivered onboard the 2014-built 159,966-cbm, Maran Gas Delphi.
The LNG carrier brought the cargo to the second Map Ta Phut terminal from Adnoc LNG’s Das Island LNG export terminal in the UAE, its AIS data previously showed.
With this shipment, Hin Kong Power became the first private company in Thailand to import an LNG cargo, according to the partners.
Gulf Energy and Ratch used this shipment to commission the first unit at their combined-cycle Hin Kong power plant with an installed capacity of 770 MW.
The partners said that the first unit has officially started its commercial operation on March 1, 2024.
Also, the Hin Kong power plant will generate and sell 700 MW contractual electricity to the Electricity Generating Authority of Thailand (EGAT) following a 25-year power purchase agreement.
The Hin Kong power plant consists of two units with a total installed capacity of 1,540 MW.
Gulf Energy and Ratch previously said they expect to start commercial operations of the second unit in January 2025.