Abu Dhabi Crown Prince Engages With Global Energy Giants On Ruwais LNG Project

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, met with global energy leaders to discuss the future of the energy sector. The UAE's commitment to sustainability through innovation and international collaboration was a key topic.

During the meeting, H.H. Sheikh Khaled witnessed the signing ceremony for ADNOC’s Ruwais LNG project. This project aims to lower carbon intensity and includes international partners like bp, Mitsui & Co., Shell, and TotalEnergies. Each partner will receive a 10% equity stake, while ADNOC retains a 60% majority stake.

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The Ruwais LNG project is set to be the first LNG export facility in the Middle East and North Africa (MENA) region powered by clean energy. Located in Al Ruwais Industrial City, Abu Dhabi, it will utilise advanced technologies and AI to reduce emissions and enhance efficiency.

Dr. Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO, signed the agreement alongside CEOs from bp, Mitsui & Co., Shell, and TotalEnergies. Dr. Al Jaber stated, "We are delighted to welcome bp, Mitsui & Co., Shell, and TotalEnergies as partners in ADNOC’s Ruwais LNG project." He highlighted that this project would help meet growing natural gas demand while supporting a cleaner energy future.

The partnership strengthens Abu Dhabi’s position as a trusted investment destination. It builds on the Final Investment Decision (FID) for the Ruwais LNG project endorsed by H.H. Sheikh Khaled last month in his capacity as Chairman of ADNOC's Executive Committee.

Commitment to Sustainable Growth

H.H. Sheikh Khaled emphasised that Abu Dhabi's appeal to international investors in the energy sector is growing due to innovative technological solutions. He noted that these efforts are accelerating sustainable economic growth across the UAE.

The UAE continues to address energy challenges by investing in clean projects and collaborating with global partners on initiatives fostering long-term growth in critical industries. H.H. Sheikh Khaled also stressed the importance of strategic partnerships in sharing knowledge and expertise.

Long-Term Sales Commitments

ADNOC has signed several new long-term LNG sales agreements with international partners. These include commitments for one million tonnes per annum (mtpa) with Shell and 0.6 mtpa with Mitsui & Co., raising Ruwais LNG production capacity to 70%.

Murray Auchincloss, bp CEO, said, "bp is proud to be joining ADNOC in its plans for Ruwais LNG." Kenichi Hori, President and CEO of Mitsui & Co., added that their collaboration aligns perfectly with their strategy for stable energy supply and climate change response.

Industry Leaders' Perspectives

Wael Sawan, Shell CEO, expressed delight at expanding their partnership with ADNOC through this project. He mentioned that it aligns with their strategy of creating more value with fewer emissions.

Patrick Pouyanné, Chairman and CEO of TotalEnergies, remarked on their commitment to reducing greenhouse gas emissions through this low-carbon intensity LNG plant. He noted that natural gas plays a crucial role as a transitional fuel.

The Ruwais LNG project consists of two liquefaction trains with a total capacity of 9.6 mtpa. This development will more than double ADNOC’s UAE LNG production capacity to around 15 mtpa as they expand their international portfolio.

The participation of bp, Mitsui & Co., Shell, and TotalEnergies is subject to customary regulatory clearances. The project's completion will boost development in Al Ruwais Industrial City and create more skilled jobs for UAE Nationals.

With inputs from WAM