ADNOC Gas Signs Deal to Supply 1.6 Million Tonnes of LNG to TotalEnergies
Key Facts
ADNOC Gas announced on November 3, 2026, an agreement to supply up to 1.6 million tonnes of liquefied natural gas to TotalEnergies over five years. The quantity is a total ceiling for the full contract term, not an annual volume, according to the UAE company’s announcement. First deliveries are expected to begin in 2026, according to the announcement published via Business Wire. ADNOC Gas said the agreement builds on a long-standing partnership and reflects confidence in the reliability of its supplies and its delivery track record. The two parties did not disclose the contract value, pricing terms or detailed shipping schedule.
Stéphane Michel, TotalEnergies’ president of gas, renewables and power, said the “ideal location between Europe and Asia” for the new supplies would enable his company to cement its position among the leading suppliers of LNG portfolios. Michel described the geographic location of the supplies without specifying their destination or saying they had been allocated to particular markets. The agreement comes against the backdrop of an existing relationship between the parties; ADNOC Gas describes TotalEnergies as a shareholder and strategic partner. The deal also provides the buyer with additional volumes under supply arrangements spanning five years, while the announcement did not explain how they would be distributed across those years. This places the contract within a long-term commercial framework, with no details disclosed about its contribution to either company’s sales.
TotalEnergies says it sold 44 million tonnes of liquefied natural gas in 2025, while its regasification capacity in Europe stands at about 20 million tonnes a year. These figures reflect part of the company’s activity across the LNG value chain, from sales to infrastructure that enables gas to enter European networks. The agreement details do not specify how much the new cargoes will add to the company’s sales or use of its facilities. ADNOC Gas, meanwhile, said its supplies meet about 60% of the UAE’s marketed gas needs and that it supplies end customers in more than 20 countries. These activities combine meeting domestic market needs with supplying customers abroad.
The deal is part of ADNOC’s push to expand its global LNG marketing and trading business. The platform announced by the company brings together marketing activities at ADNOC Gas and XRG with trading capabilities at ADNOC Trading. The platform aims to market 47 million tonnes a year after 2030, a future target separate from the agreement’s total volume ceiling with TotalEnergies. Fatima Al Nuaimi, chief executive of ADNOC Gas, said “global demand for LNG continues to grow, and ADNOC Gas is well positioned to capture this opportunity.” The target places the agreement within a broader commercial expansion, though the announcement did not specify the contract’s share of it.
The International Energy Agency expects about 300 billion cubic metres a year of global LNG export capacity to be added by 2030, driven mainly by expansions in the United States and Qatar. Together, the two countries account for 70% of expected new capacity, according to the agency. These expansions could lift global supply by a net 250 billion cubic metres by 2030, after accounting for declining output from some suppliers and operating rates at new facilities. On the demand side, the agency’s report expects global gas demand to grow by about 1.5% a year between 2024 and 2030, equivalent to an increase of 380 billion cubic metres. The Asia-Pacific region is expected to account for about half of that increase, setting supply expansion against expected demand growth over the same period.
The near-term demand trajectory, however, appears slower than the projected average growth over the longer period: the International Energy Agency report forecast global gas demand growth would fall from 2.8% in 2024 to less than 1% in 2025. It also forecast Asia-Pacific demand growth of less than 1% in 2025 compared with 2024. These are forecasts in the “Gas 2025” report, not subsequent data on actual performance for the year. The expected slowdown comes alongside a wave of major additions to export and liquefaction capacity through 2030. The first deliveries under the ADNOC Gas and TotalEnergies agreement are expected to begin in 2026 and run for five years.
TotalEnergies shares closed at $92.78 on November 2, 2026, the day before the agreement was announced. That price does not represent the share’s performance during the announcement session, and the companies’ statement did not estimate the contract’s financial impact or effect on the share price. In its 2025 strategy, TotalEnergies set a target to increase LNG sales by 50% by 2030 compared with 2024, while growing cash flow from its integrated LNG business by more than 70%, assuming a Brent price of $70 per barrel and a “TTF” price of $8 per million British thermal units. The company said in the presentation that 95% of its targeted 2030 production was already operating or under development, and that oil and gas production would grow by more than 3% a year in 2025 and 2026. These are strategic targets and assumptions announced in 2025; the agreement announcement does not say how the contract contributes to them.