en.Wedoany.com Reported - Abu Dhabi National Oil Company (ADNOC) and XRG have signed a Strategic Cooperation Agreement (SCA) with Japan's Mitsui & Co., Ltd. (Mitsui) to explore new growth opportunities across the energy value chain, including liquefied natural gas (LNG), crude oil, sulfur, shipping, and chemicals.
The agreement was signed during the visit of His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, UAE Special Envoy to Japan, Managing Director and Group CEO of ADNOC, and Executive Chairman of XRG, to Japan. The framework covers international energy investments through XRG, as well as cooperation in crude oil market development and long-term supply, LNG sales and optimization, sulfur procurement and logistics, and shipping solutions. Shipping cooperation may involve LNG, ammonia, sulfur, and other commodities.
Nasser Al Muhairi, Acting CEO of ADNOC Downstream, Marketing & Trading and Chairman of Ruwais LNG, stated that the agreement will expand ADNOC's long-standing partnership with Mitsui. He noted that Japan is a key market for ADNOC and Mitsui is a long-term trusted partner, and the agreement broadens the scope of cooperation from LNG, crude oil, and sulfur to shipping and chemicals, while opening new opportunities for international investment and low-carbon growth through XRG. The parties will combine their capabilities to enhance supply resilience, create greater customer value, and support sustainable long-term growth in Asia.
Kenichiro Yamaguchi, Senior Executive Officer of Mitsui & Co., Ltd., said the agreement reaffirms the company's commitment to the UAE and believes it will pave the way for a stronger partnership with ADNOC and XRG across the energy and chemicals value chain. Mitsui values its long and successful relationship with ADNOC since the 1970s and appreciates the opportunity to establish a broad, multi-faceted framework for future cooperation.
Through XRG, ADNOC and Mitsui will also assess international investment opportunities in the energy value chain and consider potential collaboration in low-carbon fuels and chemicals, including methanol and other projects at TA'ZIZ.
