ADNOC Gas has revealed plans to acquire ADNOC's 60% stake in the Ruwais Liquified Natural Gas (LNG) plant during the second half of 2028. The acquisition, estimated at around $5 billion, is a strategic move to bolster ADNOC Gas's position in the global LNG market.
As part of the ADNOC Group, ADNOC Gas is overseeing the construction and design of the Ruwais LNG facility, as well as managing the marketing of LNG volumes. Approximately 7 million tonnes per annum (mtpa) of the project's total capacity of 9.6 mtpa has already been secured by international customers.
Dr Ahmed Mohamed Alebri, CEO of ADNOC Gas, emphasized, "Our goal has always been to acquire ADNOC's 60% stake in Ruwais LNG. This investment is pivotal to our international growth strategy and will significantly enhance our standing in the global LNG market." ADNOC Gas plans to invest $15 billion in capital expenditure over the next five years to capitalize on the anticipated rise in demand for lower carbon gases.
The Ruwais LNG plant will increase ADNOC Gas's current LNG capacity from 6 mtpa to over 15 mtpa. The facility will feature two electrically powered liquefaction trains, each with a capacity of 4.8 mtpa, making it a first in the MENA region. Upon completion, Ruwais LNG is set to be one of the world's lowest-carbon-intensity LNG plants.
The first train is scheduled to commence operations in the second half of 2028, with the second train following in early 2029. The plant will have the annual capacity to produce enough LNG to power every home in Greater London for over two years. Additionally, the facility will utilize AI and other advanced digital technologies to enhance safety, reduce emissions, and improve efficiency.
In June, ADNOC announced the Final Investment Decision (FID) on the Ruwais LNG project and awarded an Engineering, Procurement, and Construction (EPC) contract worth over $5.5 billion. In July, Mitsui & Co, Shell, bp, and TotalEnergies joined as equity partners, each acquiring a 10% stake in the project.
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