ADNOC signed an agreement with Austria’s OMV on October 27 to explore a partnership for the supply of LNG.
According to the MoU, ADNOC will look to supply one LNG cargo to OMV for the winter season of 2023-24. Austria has been looking for alternative sources of natural gas since Russia’s invasion of Ukraine.
“We take an important step in further intensifying our strong partnership between OMV and ADNOC. At the same time, this agreement is another building block in our efforts to strengthen Austria´s energy supply by diversifying gas sources in our portfolio,” OMV CEO Alfred Stern said.
OMV and ADNOC have already worked together across the value chain in many areas. In the E&P sector, OMV acquired a 20% interest in the offshore concession for the two SARB and Umm Lulu oil fields in April 2018, followed by the acquisition of a 5% stake in the Ghasha sour gas and condensate field concession with a term of 40 years in December 2018.
ADNOC agreement with OMV follows deals in September with Germany for the supply of LNG and low-carbon ammonia in the coming years.
The Abu Dhabi player plans to supply one LNG cargo for delivery in late 2022 to be used in the commissioning of German company RWE’s floating LNG import terminal at Brunsbuttel.
Adnoc has also reserved further LNG cargos exclusively for Germany next year.