Adnoc sells 40% stake in Ruwais LNG project to international firms

The Abu Dhabi company will retain the remaining 60 per cent stake in the project

By Reuters

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The Panorama Digital Command Centre at the Adnoc headquarters in Abu Dhabi. — Reuters
The Panorama Digital Command Centre at the Adnoc headquarters in Abu Dhabi. — Reuters

Published: Wed 10 Jul 2024, 3:32 PM

Shell, BP, TotalEnergies and Japan's Mitsui have each agreed to invest in a 10 per cent stake in Abu Dhabi National Oil Company's (Adnoc) Ruwais liquefied natural gas (LNG) project, the Abu Dhabi Media Office said on Wednesday.

The Ruwais LNG project will consist of two 4.8 million metric tonnes per annum (mtpa) of LNG plants, which will more than double Adnoc's LNG capacity to 15 mtpa.


Adnoc also agreed to supply Shell one mtpa of LNG from the plant, which is expected to start deliveries in 2028, as well as a supply deal for 0.6 mtpa with Mitsui, the government media office said.

The supply deals take the committed Ruwais LNG production capacity to 70 per cent, ADMO added.


Adnoc will retain the remaining 60 per cent stake in the project.



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