Adnoc has opened a sales and marketing office in China, a move aimed at boosting long-term business relationships between the energy company and the world's second-largest economy.
The Beijing office is a "significant new step" in Adnoc's efforts to strengthen ties with its customers and partners, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, and managing director and group chief executive of Adnoc, said in a post on X.
"We are confident that the opening of this office and the signing of the LNG [liquefied natural gas] supply agreements are important steps that will contribute to strengthening co-operation with our Chinese partners," he said.
This would "create new opportunities to maximise benefits across various aspects and areas of the energy sector value chain", Dr Al Jaber said.
In 2023, Adnoc signed a 15-year deal with a unit of China’s ENN Natural Gas for the delivery of at least a million tonnes a year of LNG. The LNG will primarily be sourced from Adnoc’s Ruwais LNG project in Abu Dhabi, with deliveries expected to start in 2028, Adnoc said at the time.
Last year, Adnoc also signed strategic agreements with two Chinese energy companies to collaborate on low-carbon energy solutions. The pact with China National Offshore Oil Company aims to explore opportunities in new energy plans, low-carbon solutions, LNG ventures, oil and gas activities, and trading projects.
Meanwhile, an agreement with China National Petroleum Corporation will focus on the energy value chain, including low-carbon solutions, LNG, oil and gas exploration, advanced technologies, refining, marketing and trading.
The UAE and China boosted their economic collaboration with bilateral trade between the nations in the first nine months of 2024 rising 7.2 per cent to reach $74.6 billion, China’s ambassador to the UAE, Zhang Yiming, said in Abu Dhabi recently.
Energy is a key sector of focus. In November, Abu Dhabi clean energy company Masdar and China’s Silk Road Fund signed an initial agreement to jointly invest in renewable energy projects in Belt and Road Initiative countries, mainly in developing countries.
