ADNOC Gas Signs Five-Year LNG Supply Agreement With TotalEnergies
Volumes are capped at 1.6 million tonnes, with first deliveries scheduled for 2026 and commercial terms kept private.
ADNOC Gas will supply TotalEnergies with LNG across five years, with volumes capped at 1.6 million tonnes. Deliveries begin in 2026. The companies announced the contract in a joint statement and kept the financial value, the pricing terms and any detailed delivery schedule to themselves.
Fatema Al Nuaimi, chief executive of ADNOC Gas, cast the agreement as proof that her company can secure long-term partners while demand for LNG climbs worldwide. That growth, she said, opens room to expand the supply business and sign more partnerships of the same kind.
Stéphane Michel, president of Gas, Renewables & Power at TotalEnergies, highlighted the UAE's position between Europe and Asia, and the contract's contribution to his company's LNG portfolio.
ADNOC Gas meets about 60% of the UAE's gas sales requirements and serves customers in more than 20 countries, with its LNG marketing handled through XRG and ADNOC Trading. TotalEnergies put its global LNG portfolio at 44 million tonnes in 2025, and it holds access to more than 20 million tonnes per annum of regasification capacity in Europe.
The buyer's longer aim gives the deal its weight. Natural gas is meant to reach nearly half of the company's sales mix by 2030, so secured volumes from the Gulf slot into a portfolio already tilting that way rather than testing a new fuel.
Those ambitions rest on a strong quarter. In results reported on October 29, TotalEnergies booked third-quarter net income of $8.3 billion, up 124.4% from $3.7 billion a year earlier. Adjusted net income more than doubled to $9.1 billion, and adjusted EBITDA climbed 73% to $17.8 billion. Integrated LNG turned in adjusted net operating income of $1.9 billion, against $852 million a year before. Over the first nine months of 2026, net income rose 91% to $19.5 billion and cash flow from operations excluding working capital grew 48% to $30.6 billion.
ADNOC Gas placed sixth on a 2026 ranking of the 100 most valuable companies. Its shares traded at $0.85 (AED 3.13) at 11:31 AM AST, down 0.32% from the previous session, giving a market capitalization of $65.4 billion (AED 240.2 billion). Third-quarter 2026 results are due on November 10.
