ADNOC has signed a second Gross sales and Buy Settlement (SPA) for the lower-carbon Ruwais liquified pure fuel (LNG) venture, with Malaysia’s Petronas. The 15-year SPA for supplying 1 million tonnes each year (mtpa) of LNG converts a earlier Heads of Settlement between ADNOC and Petronas right into a definitive settlement.
The LNG will primarily be sourced from the Ruwais LNG venture, which is presently underneath growth in Al Ruwais Industrial Metropolis, Abu Dhabi. Deliveries are anticipated to start out in 2028 upon graduation of its industrial operations. Thus far, over 8 mtpa of the venture’s manufacturing capability has been dedicated to worldwide prospects via long-term agreements.
“Pure fuel performs a vital position in assembly the world’s vitality wants, and we’re proud to accomplice with Petronas to ship lower-carbon LNG via this landmark settlement,” mentioned Fatema Al Nuaimi, Govt Vice President, Downstream Enterprise Administration at ADNOC. “This milestone additional underscores ADNOC’s position as a dependable international vitality provider and helps rising demand in Asia for cleaner, extra sustainable vitality options.”
ADNOC Fuel introduced in November 2024 that it expects to amass ADNOC’s 60% stake within the Ruwais LNG venture at value, estimated at round $5 billion, within the second half of 2028. Upon completion, the venture, comprising two 4.8 mtpa liquefaction trains with a mixed capability of 9.6 mtpa, will greater than double ADNOC Fuel’ present operated LNG manufacturing capability to round 15 mtpa.
“This partnership with ADNOC marks a big milestone in strengthening Petronas’ enterprise with the UAE, complementing our upstream actions whereas reinforcing the strategic financial relationship between the UAE and Malaysia,” mentioned Shamsairi Ibrahim, Vice President of LNG Advertising and marketing & Buying and selling. “This collaboration bolsters our LNG portfolio with a dependable provide of lower-carbon vitality to fulfill Malaysia’s home demand, enhances safety of provide for our prospects, and fosters deeper government-to-government collaboration while enabling sustainable growth and offering options for the vitality transition that can enrich lives for a sustainable future.”
The Ruwais LNG plant would be the first LNG export facility within the Center East and Africa area to run on clear energy, making it one of many lowest-carbon depth LNG vegetation on this planet.
