ADNOC Gas, a world-class integrated gas processing company, announced today that it expects to acquire ADNOC’s 60 percent stake in the Ruwais Liquified Natural Gas (LNG) plant in the second half of 2028 at cost.
ADNOC Gas expects ADNOC to transfer its 60 percent share of the Ruwais LNG project to the company at cost, estimated to be around $5 billion, in the second half of 2028.
“It has always been our intention to acquire ADNOC’s 60 percent stake in Ruwais LNG. This investment is a central component of our ambitious international growth plans and will strengthen ADNOC Gas’ position as a powerhouse in the global LNG market,” stated Dr. Ahmed Mohamed Alebri, CEO of ADNOC Gas.
ADNOC Gas to invest $15 billion in Ruwais LNG
ADNOC Gas, on behalf of ADNOC Group, is managing the construction and design of Ruwais LNG. Moreover, the company is leading the marketing of LNG volumes. ADNOC has already committed over 7 million tons per annum (mtpa) of the project’s total production capacity of 9.6 mtpa to international customers.
Last week, the company announced that it signed with SEFE the first long-term sales and purchase agreement for the project. Under the 15-year purchase agreement, ADNOC will provide SEFE Marketing and Trading Singapore, a subsidiary of Germany’s SEFE Securing Energy for Europe GmbH, with 1 million tonnes per annum of LNG.
“Over the next five years we plan to invest $15 billion in CAPEX in projects which will enable us to capture opportunities from the forecast increase in domestic and global demand for the lower carbon gases we produce,” added Alebri.
The Ruwais LNG plant will more than double ADNOC Gas’ current gross 6 mtpa LNG capacity, which comes from Das Island, to reach more than 15 mtpa. The plant will have two electrically powered liquefaction trains, each with a processing capacity of 4.8 mtpa, a first in the Middle East and North Africa (MENA) region. Upon completion, Ruwais LNG will be one of the lowest-carbon-intensity LNG plants in the world.
Read: ADNOC, SEFE ink 15-year purchase agreement for Ruwais LNG project
Ruwais LNG to begin production in H2 2028
The first of the plant’s two trains will likely come on stream in H2 2028 and the second in early 2029. Over any given year, the facility will be able to produce enough LNG to power every home in the Greater London area for more than two years. The facility will also leverage AI and other advanced digital technologies to enhance safety, minimize emissions, and drive efficiency.
In June, ADNOC announced a final investment decision (FID) on the Ruwais LNG project. Moreover, it signed an engineering, procurement, and construction (EPC) contract worth over $5.5 billion. In July, it also welcomed Mitsui & Co, Shell, bp, and TotalEnergies as equity partners, each taking a 10 percent stake.
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