Abu Dhabi National Oil Company (ADNOC) has confirmed that BP, Mitsui & Co., Shell and TotalEnergies will each acquire a 10% stake in the upcoming Ruwais LNG project.
The energy giant will maintain a 60% majority stake in the export terminal.
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ADNOC has also secured new long-term LNG sales agreements including a commitment for the delivery of one million tonnes per annum (tpa) with Shell and 600,000tpa with Mitsui.
With the LNG supply agreements, 70% of the Ruwais LNG production capacity is committed to international partners.
The final investment decision for the Ruwais LNG project was announced last month, alongside the award of a $5.5bn (Dh20.2bn) engineering, procurement and construction contract.
A consortium led by Technip Energies, with JGC Corporation and NMDC Energy as partners, will execute the project.
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By GlobalDataSituated in Al Ruwais Industrial City, Al Dhafra, Abu Dhabi, the Ruwais LNG project is set to become the first LNG export facility in the Middle East and North Africa region to utilise clean power.
It aims to implement advanced technologies and AI to reduce emissions and enhance operational efficiency.
The project will feature two LNG liquefaction trains with a combined capacity of 9.6 million tonnes per annum (mtpa).
It is expected to more than double ADNOC’s UAE LNG production capacity to approximately 15mtpa.
ADNOC managing director and group CEO Sultan Ahmed Al Jaber said: “We are delighted to welcome bp, Mitsui & Co., Shell and TotalEnergies as partners in ADNOC’s Ruwais LNG project, which will be one of the world’s lowest carbon-intensive LNG facilities.
“As natural gas demand continues to increase, this world-class project will enable us to provide more lower-carbon gas to meet growing demand today while helping the world transition to a cleaner energy future. Additionally, the project will accelerate development in Al Ruwais Industrial City, boost the local industrial ecosystem and create more skilled private sector jobs for UAE nationals.”
The involvement of bp, Mitsui, Shell and TotalEnergies in the Ruwais LNG project remains subject to the receipt of customary regulatory approvals.
