A couple of energy supply agreements, Dubizzle invests in Takeem, and Bitcoin Suisse secures ADGM approval

90% of Ruwais’ LNG capacity is now committed

Adnoc has signed a 15-year agreement to supply Inpex, Japan's largest exploration and production company, with 1 mn tons a year of LNG from the Ruwais LNG project, starting when the plant comes online in 2028, according to a statement.

The Inpex agreement pushes Ruwais LNG's long-term commitments past 90% of its 9.6 mtpa capacity — with close to a quarter of that now spoken for by Japanese buyers alone — years before the facility ships anything.

ALSO- More UAE-Japan energy cooperation to come? Adnoc and XRG also signed a strategic collaboration agreement with Mitsui, covering crude, LNG, sulfur, shipping, and chemicals, plus joint international investment through XRG, according to a press release.

Fujairah gov’t snaps up supply from Etihad Refinery

Fujairah's government has signed on as a customer of Etihad Refinery, Etihad Energy Holding's downstream subsidiary, inking a 10-year offtake agreement to buy its gasoline output, per a statement (pdf). The financial details weren’t disclosed but the 10-year agreement came into force on Monday, Khaleej Times reports.

ICYMI- Etihad Energy Holding said last month that it was spending USD 300-350 mn to develop a 19k bbl / d refinery in Fujairah. The plant will process Euro5-compliant gasoline and other high-value products, like 95-octane gasoline, low-sulfur diesel, lubricating oil, and naphtha.

More to come? Etihad Energy’s CEO Saif Al Hazaymeh had said that the project was part of an AED 1.5 bn three-year investment plan covering oil and gas and maritime shipping. It's also the latest sign of money flowing into Fujairah specifically. The emirate has become a focal point for UAE energy infrastructure investment, including pipeline capacity built to route around the Strait of Hormuz if there's ever a disruption there.

Dubizzle invests in Takeem to expand rental services

UAE-based proptech startup Takeem has secured an investment from Dubizzle’s early-stage investment arm, Dubizzle Group Ventures, according to a press release. The investment comes months after the startup secured funds from Reach Middle East. The exact investment ticket wasn’t disclosed.

BACKGROUND- Takeem aims to address structural inefficiencies and headaches in the real estate market, including liquidity issues and limited transparency, through its integrated assurance platform targeting both GCC landlords and tenants, its co-founder Rakesh Mavath previously told us. It uses rental data to assess risks and provide landlords with protection against defaults.

IN CONTEXT- The UAE’s proptech sector has been gaining momentum recently, with the likes of Stake and Prypco raising fresh funds, and Dubizzle taking a stake in Tern last month.

Bitcoin Suisse secures ADGM approval for UAE expansion

Swiss digital asset firm Bitcoin Suisse’s regional subsidiary has secured regulatory approval from ADGM’S Financial Services Regulatory Authority, allowing the firm to offer regulated digital asset services to institutional and professional clients in the UAE, according to a press release. It had secured preliminary approval last year to expand in the region.

The details: Through its UAE subsidiary, Bitcoin Suisse will provide regulated custody, trading, and digital asset management services. The company said it manages USD 3.7 bn in crypto assets globally and is the fourth-biggest staking operator in the world.