Shell, TotalEnergies, BP, and Mitsui to Invest 40% in ADNOC's 9.6 mtpa Ruwais LNG Project

Jul 10, 2024, 10:27 AM

Four international companies, Shell, TotalEnergies, BP, and Mitsui, have agreed to invest in ADNOC's next LNG export project, the Ruwais LNG, sources say. Each company will acquire a 10% stake, totaling a 40% stake collectively. This investment aims to double the UAE's LNG capacity to meet growing global gas demand. The project includes two 4.8 million tons per annum (mtpa) LNG liquefaction trains, with a total capacity of 9.6 mtpa, expected to be completed by 2028. Abu Dhabi’s crown prince Khaled bin Mohammed bin Zayed met with the heads of the involved international oil companies (IOCs) to discuss the project. ADNOC has also signed several new long-term LNG sales commitments with these energy majors.