MENA Newswire News Desk: ADNOC Gas has announced plans to acquire ADNOC’s 60% ownership stake in the Ruwais Liquified Natural Gas (LNG) project, with the transfer expected in the latter half of 2028 at an approximate cost of $5 billion. This acquisition is part of ADNOC Gas’ broader strategy to expand its influence in the global LNG market, enhancing its capacity to meet the growing demand for lower-carbon energy sources domestically and internationally.
Currently under ADNOC Gas’ management, the Ruwais LNG project is progressing with construction and design efforts, while the company actively leads the marketing of its LNG production. Of the project’s total planned output capacity of 9.6 million tonnes per annum (mtpa), over 7 mtpa has already been contracted to international buyers. This strategic pre-sale reflects the robust demand for LNG and positions the Ruwais plant as a key asset in ADNOC Gas’ expanding portfolio.
Dr. Ahmed Mohamed Alebri, CEO of ADNOC Gas, emphasized the significance of this acquisition, stating, “It has always been our intention to acquire ADNOC’s 60% 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.” Dr. Alebri also outlined a $15 billion capital expenditure (CAPEX) plan over the next five years, aimed at capturing new opportunities arising from an increasing global shift towards cleaner, lower-carbon energy options.
The Ruwais LNG facility is projected to significantly boost ADNOC Gas’ LNG output. Currently, the company operates a 6 mtpa LNG facility on Das Island, which will see its overall production capacity expanded to over 15 mtpa once the Ruwais plant is fully operational. The Ruwais facility will feature two electrically powered liquefaction trains, each with a 4.8 mtpa capacity, marking a first in the Middle East and North Africa (MENA) region.
This plant will also be among the lowest carbon-intensity LNG facilities globally, aligning with ADNOC’s environmental goals. With one liquefaction train scheduled to begin operations in the second half of 2028 and the second in early 2029, the Ruwais LNG plant is anticipated to produce enough LNG to supply the energy needs of a city the size of Greater London for more than two years.
Furthermore, the facility is designed to incorporate artificial intelligence and other advanced digital technologies to enhance operational safety, minimize emissions, and improve overall efficiency. In June, ADNOC affirmed a Final Investment Decision (FID) for the Ruwais LNG project and awarded an Engineering, Procurement, and Construction (EPC) contract valued at over $5.5 billion.
By July, the project welcomed Mitsui & Co., Shell, bp, and TotalEnergies as equity partners, with each company acquiring a 10% stake in the project. Through this strategic acquisition and development, ADNOC Gas positions itself to become a leading force in the LNG market, meeting global energy demands with a focus on sustainable and low-carbon fuel options.