ADNOC signs MoU with Austria for LNG trade

Abu Dhabi

ABU DHABI, October 28, 2022 – OMV has signed an MoU with ADNOC to explore LNG deliveries from the UAE to Austria, the Austrian integrated oil and gas company announced on Thursday.

The initial partnership aims to arrange a single purchase of LNG cargo for the winter of 2023/24.

“This agreement is another building block in our efforts to strengthen Austria´s energy supply by diversifying gas sources in our portfolio,” said Alfred Stern, chairman of the executive board and CEO of OMV.

OMV and ADNOC are partnered on many projects, including OMV’s 20% share of the offshore Umm Lulu and Satah al-Razboot fields and 5% share in the offshore Ghasha sour gas field located in the UAE, both signed in 2018.

Additionally, OMV and ADNOC’s joint venture Borealis operates the Borouge integrated polyolefin complex in Al Ruways.

OMV also holds a 15% stake in ADNOC Global Trading and ADNOC Refining.

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