{"id":79212,"date":"2024-06-13T00:00:00","date_gmt":"2024-06-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/13\/adnoc-makes-final-investment-decision-awards-usd-5-5-bn-contract-for-ruwais-lng-project\/"},"modified":"2024-06-13T00:00:00","modified_gmt":"2024-06-13T00:00:00","slug":"adnoc-makes-final-investment-decision-awards-usd-5-5-bn-contract-for-ruwais-lng-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/13\/adnoc-makes-final-investment-decision-awards-usd-5-5-bn-contract-for-ruwais-lng-project\/","title":{"rendered":"Adnoc makes final investment decision + awards USD 5.5 bn contract for Ruwais LNG project"},"content":{"rendered":"

Abu Dhabi National Oil Company (Adnoc) reached the final investment decision for its <\/strong>liquified natural gas (LNG) project in Al Ruwais Industrial City <\/strong>at an executive board committee meeting yesterday, it said in a statement<\/a>. The company also handed out an engineering, procurement, and construction (EPC) contract for the project. The company plans to start exporting from the Ruwais site in 2028. The project is expected to more than double Adnoc\u2019s LNG production capacity to 15 mn metric tons per annum from 6 mn tons.<\/p>\n

REMEMBER- <\/strong>Adnoc planned to reach a final investment decision on the Ruwais project in 1H 2024, Bloomberg<\/a> previously reported. The oil giant said it would use its own funds to expand production, the business information service said at the time, though several international firms \u2014 including UK oil and gas giant Shell, French TotalEnergies, Japanese trading firm Mitsui & Co., and even India<\/a> \u2014 have shown interest in acquiring a stake in the facility since then.<\/p>\n

Getting the ball rolling:<\/strong> Adnoc handed out a USD 5.5 bn EPC contract for its project, according to the statement. The contract was handed to a JV between engineering companies Technip Energies<\/a> and JGC Corporation<\/a>, and National Marine Dredging Company. Adnoc had previously issued a Limited Notice to Proceed award to the JV back in March<\/a>.<\/p>\n

More about the JV: <\/strong>The JV was established back in July 2022<\/a> to accelerate the UAE\u2019s transition to clean energy. It offers services in blue and green hydrogen, related decarbonization projects, and industrial projects in the fields of waste-to-energy, biorefining, and biochemistry.<\/p>\n

\u2026and has been ramping up supply agreements: <\/strong>Adnoc inked 15-year agreements with China's ENN Natural Gas<\/a> and SEFE Marketing & Trading Singapore<\/a>, a subsidiary of Germany\u2019s state-owned energy firm Securing Energy for Europe, to deliver to each some 1 mn tons of LNG annually from the new plant. The company also inked a similar 15-year agreement<\/a> with German energy giant Energie Baden-W\u00fcrttemberg to supply it with 0.6 mn tons of LNG annually.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company plans to start exporting from the Ruwais site in 2028<\/p>\n","protected":false},"author":1,"featured_media":79213,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[44,32,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-investment-watch","tag-trade","tag-uae","wpautop","entry"],"acf":{"mongo_id":"e7356718-669d-4899-a19a-fa62d4c20234","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1263.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc 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