ADNOC Gas signs 1.6m-tonne LNG deal with TotalEnergies

ADNOC Gas said Tuesday it had signed a five-year liquefied natural gas supply agreement with France's TotalEnergies to provide up to 1.6 million tonnes of LNG.

TotalEnergies said it expected the first deliveries to arrive this year.

ADNOC Gas chief executive Fatema Al Nuaimi said global demand for LNG continued to grow and that the company was positioned to benefit from it.

The International Energy Agency warned Tuesday that Europe was entering winter with its lowest level of natural gas reserves since 2013. The IEA said Europe's gas storage reservoirs were 75 percent full at the end of October, below the European Union's minimum target of 80 percent for that time of year.