Browsing: ADNOC

Business

ADNOC, PETRONAS Finalise 15-Year LNG Sales Deal

ADNOC has strengthened its partnership with Malaysia’s PETRONAS by finalising a second 15-year sales and purchase agreement (SPA) for liquefied natural gas (LNG) from the Ruwais LNG project. The agreement converts an earlier heads of agreement (HoA) into a binding deal, with PETRONAS set to procure one million tonnes per annum (mtpa) of LNG starting in 2028, upon the project’s commercial launch.

Business

UAE President Chairs ADNOC Board Directors Meeting

President His Highness Sheikh Mohamed bin Zayed Al Nahyan chaired the annual ADNOC Board of Directors meeting, held at ADNOC Headquarters. The board directed ADNOC to pursue Net Zero emissions by 2050, supporting the UAE’s strategic initiative.

Business

ADNOC To Invest $54B in the UAE via ICV Programme

President Sheikh Mohamed bin Zayed Al Nahyan chaired ADNOC’s annual board meeting at its headquarters, where he approved the launch of XRG, a company focused on lower-carbon energy and chemicals. XRG aims to accelerate ADNOC’s global expansion and meet the rising demand for natural gas, chemicals, and low-carbon energy sources.

Business

ADNOC, Masdar join Microsoft for AI and low-carbon advancements

ADNOC and Abu Dhabi Future Energy Company (Masdar) have signed a Strategic Collaboration Agreement (SCA) with Microsoft, aiming to drive AI and low-carbon initiatives in the UAE and internationally. The focus is on decarbonising the current energy system and enabling a sustainable energy future.