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Over the next year, Adnoc is targeting two to three long-term contracts to purchase LNG and as many separate supply deals with customers, according to one of the people. Expanding in LNG will be a primary focus after it hired three traders from Litasco, a unit of Russia’s Lukoil PJSC, last year.
The moves are part of Adnoc’s wider push to secure assets around the world, including a $12 billion pursuit of German chemical-maker Covestro AG and a $2 billion offer with BP Plc for an Israeli gas producer.