ADNOC Gas expects to acquire ADNOC’s 60% stake in the Ruwais Liquified Natural Gas (LNG) plant, doubling its operated LNG processing capacity to 15.6 million tonnes/year (tpy).
ADNOC Gas said it expects ADNOC to transfer its 60% share of the Ruwais LNG project to the company at cost—estimated at $5 billion—in second-half 2028. On behalf of the ADNOC Group, ADNOC Gas is managing the construction and design of Ruwais LNG, as well as leading the marketing of LNG volumes, the company said in a release Nov. 10.
Over 7 million tpy of the project’s total production capacity of 9.6 million tpy has been committed to international customers.
Noting that it has always been the intention of ADNOC Gas to acquire ADNOC’s 60% interest in Ruwais LNG, Dr. Ahmed Mohamed Alebri, chief executive officer of ADNOC Gas, said the investment is “a central component” of the company’s international growth plans and will strengthen its position in the global LNG market.
“Over the next 5 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,” he said.The Ruwais LNG plant will more than double ADNOC Gas’ current gross 6 million tpy LNG capacity operated from Das Island; it will have two electrically powered liquefaction trains, each with a processing capacity of 4.8 million tpy.
The first of the plant’s two trains is expected to come on stream in second-half 2028 and the second in early 2029.In June, ADNOC made final investment decision (FID) on Ruwais LNG and let an engineering, procurement, and construction (EPC) contract, valued at over $5.5 billion.
Mitsui & Co, Shell, bp, and TotalEnergies are equity partners, each with a 10% stake.