Long-term contracts provide one kind of certainty, but customers have different needs. Some want supply for decades; others need cargo at short notice. And increasingly, supply can come not only from Abu Dhabi but a range of other global locations. XRG is building this wider supply base. In the United States, it holds stakes in all five trains under construction at Rio Grande LNG in Texas, which will have combined capacity of around 30 million metric tonnes a year. ADNOC and NextDecade have also entered into a 20-year LNG offtake agreement for 1.9 million metric tonnes a year from Train 4. In Mozambique, XRG holds 10% of three developments: the producing Coral South floating facility, its sister project Coral North and the larger onshore Rovuma LNG project. The purpose is not geographic reach for its own sake, but optionality. Supply from several regions creates more ways to match gas with customers and respond when conditions change. The LNG Marketing and trading platform brings those options together: long-term marketing for ADNOC Gas and XRG is centralized there, while ADNOC Trading handles trading. “Marketing is when you’ve got a product to sell,” says Paul O’Sullivan, Head of LNG Trading at ADNOC Trading. “Trading is when you’re trying to create value from elsewhere.” That value can come from price, timing or geography. ADNOC can source LNG from different regions, trade against different benchmarks and redirect cargoes as markets move. Trading also helps manage the risks created by shifting weather, closed routes, delayed ships and tight markets. It can save freight costs, allow an additional voyage or redirect a cargo to a higher-value destination. Every optimization on a trading screen eventually becomes a physical journey. ADNOC L&S operates around 350 vessels, with 24 more under construction, and serves more than 100 customers in over 50 countries. Its owned LNG carrier fleet comprises 20 vessels.