ADNOC and its international investment platform XRG have signed a Strategic Collaboration Agreement with Japan's Mitsui & Co. to pursue new business opportunities spanning the energy value chain, deepening a partnership that dates back to the 1970s.

The agreement, signed during ADNOC Managing Director and Group CEO Sultan Al Jaber's visit to Japan, establishes a framework for the companies to explore cooperation across liquefied natural gas (LNG), crude oil, sulfur, shipping, and chemicals, while also evaluating international energy investment opportunities through XRG.

The companies will assess collaboration on crude oil market development and long-term supply arrangements, LNG sales and portfolio optimization, sulfur procurement and logistics, and shipping solutions covering LNG, ammonia, sulfur, and other commodities.

The partnership will also examine opportunities in lower-carbon fuels and chemicals, including methanol and projects at the UAE's TA'ZIZ industrial and chemicals hub, alongside broader international investments across the energy sector through XRG.

The agreement builds on ADNOC's longstanding relationship with Mitsui and reinforces the UAE's role as a key supplier to Japan, where ADNOC currently provides around one-third of the country's crude oil imports.

The announcement comes as ADNOC continues to expand its global gas and trading footprint. Earlier this week, the company launched an integrated global LNG marketing and trading platform combining the commercial activities of ADNOC Gas, XRG and ADNOC Trading, targeting a combined marketable LNG portfolio of 47 million metric tons per year by 2035. The latest agreement with Mitsui supports that strategy by strengthening commercial ties with one of Asia's largest energy trading houses while broadening cooperation into shipping, chemicals, and international investment opportunities.

By Charles Kennedy for Oilprice.com

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