ADNOC Gas to acquire majority stake in Abu Dhabi’s Ruwais LNG

UAE

ABU DHABI, November 11, 2024 – ADNOC Gas has agreed with parent company ADNOC to acquire its 60% stake in the Ruwais LNG facility in H2 2028, ADNOC Gas announced on Monday.

Under the agreement, ADNOC is expected to transfer its 60% share of Ruwais LNG at cost, estimated at around USD 5 billion.

ADNOC reached a FID on Ruwais LNG in June 2024, and in July it welcomed BP, Mitsui & Co, Shell and TotalEnergies as equity partners, each with a 10% stake.

ADNOC Gas is currently managing the design and construction of the facility, which will have two electrically powered liquefaction trains, each with a processing capacity of 4.8 million tonnes per year (tpy). They are expected to come on line in H2 2028 and 2029.

The company is also leading the marketing of LNG volumes. Per the company, more than 7 million tpy of the project’s total production capacity of 9.6 million tpy have already been committed to international buyers.

Image of Ruwais LNG courtesy of ADNOC Gas

Read our latest insights on:

• UAE

Previous

QatarEnergy takes delivery of four LNG tankers

Next

QatarEnergy expands exploration footprint offshore Egypt