Shell, BP, TotalEnergies, Mitsui ink deal to invest in ADNOC’s Ruwais LNG

UAE

ABU DHABI, July 10, 2024 – On Wednesday, Shell, TotalEnergies, Mitsui & Co and BP announced that they have signed on to take a 10% interest each in ADNOC’s Ruwais LNG terminal in Abu Dhabi.

Shell has also agreed to offtake 1 million tonnes per year (tpy) from the project.

Lead developer and operator ADNOC will hold a 60% share in the project, while Shell, BP, Mitsui and TotalEnergies will each hold 10%.

Located in Abu Dhabi’s Al Ruwais Industrial City, the project will consist of two 4.8-million-tpy natural gas liquefaction trains which will more than double ADNOC’s existing LNG production capacity once operational. The plant will use electric-driven motors instead of conventional gas turbines and will be powered by clean energy.

TotalEnergies CEO Patrick Pouyanné called the project “one of the world’s lowest-carbon intensity LNG plants, allowing natural gas to fully play its role of transition fuel.”

Last month, ADNOC reached an FID on the project and awarded USD 5.5 billion in EPC contracts to a joint venture of Technip Energies, JCG Corporation and NMDC Energy.

Image of the Ruwais LNG facility courtesy of ADNOC.

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