ADNOC signs multi-year LNG deal with Thailand's Gulf Group from 2027
In short
ADNOC said it signed a multi-year sales and purchase agreement with Thailand's Gulf Group for the supply of about 2 million tonnes of liquefied natural gas, with deliveries starting in 2027 and ADNOC Trading as counterparty. The deal builds on a first LNG supply agreement between the two companies signed in 2025 and was enabled by ADNOC's LNG marketing and trading platform. The National reported the agreement comes as Thailand seeks to diversify LNG supplies after the war curtailed shipments from the Gulf.
Read the full story 2 min read
ADNOC said on 5 October that it had signed a multi-year sales and purchase agreement with Thailand's Gulf Group, described by WAM as the country's leading energy and infrastructure conglomerate, for the supply of liquefied natural gas into Asia. Under the agreement, ADNOC Trading will deliver approximately 2 million tonnes of LNG to Gulf Group over a multi-year term starting in 2027. Economy Middle East and The National reported the same volume and start date. [ 1 , 2 , 3 ]
WAM and Economy Middle East said the agreement was enabled by ADNOC's LNG marketing and trading platform, which WAM reported was launched in Abu Dhabi Global Market in July 2026 to bring the company's LNG marketing and trading capabilities into a single commercial platform. WAM said ADNOC is targeting 47 million tonnes per annum of marketable LNG beyond 2030. Gulf News reported that ADNOC Gas has delivered more than 3,500 LNG cargoes worldwide and that ADNOC Trading has built a significant third-party LNG portfolio within four years. [ 1 , 2 , 4 ]
Both sides framed the deal as an extension of an existing relationship. Nasser Al Muhairi, acting chief executive of ADNOC Downstream Industry, Marketing & Trading, said the agreement “builds on our first LNG supply agreement with Gulf Group” and reinforces ADNOC's commitment to reliable energy supplies to Thailand and Asian customers. Gulf Development chief executive Sarath Ratanavadi said it builds on a relationship established with ADNOC since 2025 and reflects a strategy of a diversified LNG portfolio anchored by trading, midstream infrastructure and shipping capacity. [ 1 , 2 ]
Economy Middle East reported that in January 2025 Gulf LNG received its first imported LNG cargo for power generation in Thailand under the country's gas-market liberalisation policy, purchased under an agreement with ADNOC Trading and regasified through Map Ta Phut LNG Terminal 2 before being injected into PTT's natural gas pipeline system. [ 2 ]
The National reported the deal against a different backdrop, saying it comes as Thailand seeks to diversify LNG supplies after the war sharply curtailed shipments from the Gulf. It cited Thailand-based Krungsri Research that natural gas accounts for more than 60 per cent of the country's power generation and that about 24 per cent of its LNG imports — about 2.2 million tonnes a year — normally pass through the Strait of Hormuz, almost all from Qatar, and said state-controlled PTT has been exploring alternative supplies including from Oman, Mexico and Canada. The National said the strait remains largely shut, that QatarEnergy declared force majeure in early March and that an Iranian missile strike on the Ras Laffan complex on 18 March knocked out about 17 per cent of Qatar's LNG production capacity, with cargo cancellations extended through November and prices in Asia and Europe near their highest since late 2022. The other documents do not mention the war. [ 3 ]
The National also reported that ADNOC did not disclose prices, the length of the contract or where the cargoes will be sourced from. [ 3 ]
Why it matters
The agreement adds a multi-year outlet in Asia for ADNOC as it expands its LNG trading business, and gives Thailand's Gulf Group contracted volumes for power generation from 2027. The National reported the deal against a backdrop of disrupted Gulf supply and tighter global LNG markets, which its sources link to higher prices in Asia and Europe. The documents do not state the contract's value, price or duration, so its commercial weight cannot be assessed from them.
Key facts
- ADNOC signed a multi-year sales and purchase agreement with Thailand's Gulf Group for the supply of liquefied natural gas [ 1 , 2 , 3 ]
- The agreement covers approximately 2 million tonnes of LNG, with deliveries beginning in 2027 [ 1 , 2 , 3 ]
- ADNOC Trading will act as the counterparty and deliver the LNG to Gulf Group over the multi-year term [ 1 , 2 ]
- The deal builds on a first LNG supply agreement between the two companies signed in 2025 [ 1 , 2 , 3 ]
- ADNOC did not disclose prices, the length of the contract or where the cargoes will be sourced from [ 3 ]
- ADNOC launched its global LNG marketing and trading platform in Abu Dhabi Global Market in July 2026, targeting 47 mtpa of marketable LNG beyond 2030 [ 1 , 2 ]
- Gulf News reported that ADNOC Gas has delivered more than 3,500 LNG cargoes worldwide and that ADNOC Trading has built a third-party LNG portfolio within four years [ 4 ]
Confirmed by several sources
- ADNOC signed a multi-year sales and purchase agreement with Thailand's Gulf Group for the supply of LNG [ 1 , 2 , 3 ]
- The agreement covers approximately 2 million tonnes of LNG, with deliveries starting in 2027 [ 1 , 2 , 3 ]
- The agreement builds on a first LNG supply deal between the two companies signed in 2025 [ 1 , 2 , 3 ]
- ADNOC Trading is the counterparty delivering the LNG to Gulf Group [ 1 , 2 ]
- The agreement was enabled by ADNOC's global LNG marketing and trading platform, which it says brings its LNG marketing and trading capabilities into a single commercial platform [ 1 , 2 ]
- Nasser Al Muhairi is acting chief executive of ADNOC Downstream Industry, Marketing & Trading, and Sarath Ratanavadi is chief executive of Gulf Development [ 1 , 2 , 3 ]
Still unclear
- The price, the length of the contract and the origin of the LNG cargoes The National reported that ADNOC did not disclose these details, and no other document provides them.
- Whether the volume is a firm figure or a ceiling WAM's headline says “up to 2 million tonnes”, while Economy Middle East and The National describe “approximately 2 million tonnes”; the documents do not reconcile the two.
- The extent to which the deal is a response to Gulf supply disruption The war and the closure of the Strait of Hormuz are cited only by The National; the other documents describe the deal as building on an existing commercial relationship without linking it to the conflict.
What local media are saying
Timeline, local time
- ADNOC announces the multi-year LNG sales and purchase agreement with Gulf Group, according to WAM [ 1 ]
- Economy Middle East reports the deal, noting the 2025 relationship and the January 2025 first LNG cargo to Gulf LNG in Thailand [ 2 ]
- The National reports the agreement and links it to Thai diversification after the war curtailed Gulf LNG shipments [ 3 ]
- Gulf News reports on ADNOC's LNG trading platform and supply record [ 4 ]