Abu Dhabi National Oil Company (Adnoc) has announced the sale of a 40% stake in its Ruwais liquefied natural gas (LNG) project to international partners including Shell, BP, TotalEnergies, and Japan’s Mitsui. This strategic move aims to enhance the project’s development and global reach.
The agreement sees Shell, BP, TotalEnergies, and Mitsui each acquire a 10% stake in the Ruwais LNG project, which will significantly expand Adnoc’s LNG capacity. Currently planned are two LNG plants, each capable of producing 4.8 million metric tonnes per annum (mtpa), effectively increasing Adnoc’s total LNG capacity to 15 mtpa.
As part of the deal, Adnoc has secured supply agreements with Shell for 1 mtpa of LNG from the plant, slated to commence deliveries in 2028. Additionally, Mitsui has agreed to a supply deal for 0.6 mtpa of LNG.
According to the Abu Dhabi Media Office, these supply agreements bring the committed production capacity of the Ruwais LNG project to 70%.
Adnoc will maintain control over the remaining 60% stake in the project, demonstrating its strategic commitment to the initiative’s success and continued growth in the LNG sector.
The Ruwais LNG project is pivotal for Adnoc’s expansion plans and marks a significant step towards solidifying its position in the global energy market.
