ADNOC Gas to Acquire $5 Billion Stake in Ruwais LNG, Doubling Capacity by 2028
(P&GJ) — ADNOC Gas plans to acquire a 60% stake in the Ruwais Liquified Natural Gas (LNG) plant from its parent company ADNOC at an estimated cost of $5 billion in the second half of 2028.
The move will significantly expand ADNOC Gas' LNG processing capacity from 6 million tonnes per annum (mtpa) to 15.6 mtpa, making it a major player in the global LNG market.
The Ruwais LNG project, which features two electrically powered liquefaction trains, will be the first of its kind in the Middle East and North Africa region to run on clean grid power. This will position it as one of the lowest-carbon intensity LNG facilities worldwide. The first train is expected to be operational in late 2028, followed by the second in early 2029.
Dr. Ahmed Mohamed Alebri, CEO of ADNOC Gas, stated:
“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.”
The Ruwais LNG facility will utilize advanced digital technologies, including AI, to enhance safety, minimize emissions, and optimize efficiency. Once complete, the facility will produce enough LNG annually to power every home in Greater London for more than two years.
ADNOC Gas has already secured commitments for over 7 mtpa of Ruwais LNG’s planned 9.6 mtpa production capacity from international buyers. The company expects to invest $15 billion in capital expenditure over the next five years to meet rising demand for lower-carbon gas solutions.
Earlier this year, ADNOC reached a Final Investment Decision (FID) on the project and awarded a $5.5 billion Engineering, Procurement, and Construction (EPC) contract. Equity partners Mitsui & Co., Shell, bp, and TotalEnergies each hold a 10% stake in the Ruwais project, which aims to transform the UAE’s LNG footprint.
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