Reported about 1 year ago
Four international companies, including Shell and BP, have agreed to invest in Abu Dhabi National Oil Co.’s next liquefied natural gas export project by each taking a 10% stake in the Ruwais LNG plant. The project, with a capacity of 9.6 million tons per year, will boost the UAE's LNG export capacity to become the second-largest in the Middle East behind Qatar. Adnoc had signed a $5.5 billion construction contract before securing investments, with three of the companies also partners in the UAE’s existing LNG export plant. This investment aligns with Adnoc's focus on natural gas, renewables, and low carbon solutions.
Source: YAHOO