International energy majors BP, Japan’s Mitsui, Shell and TotalEnergies will each be awarded a 10 per cent equity stake in Adnoc’s Ruwais liquefied natural gas project in Abu Dhabi, boosting the emirate’s status as an energy investment hub and advancing the final investment decision for the facility.
Adnoc will retain a 60 per cent majority stake in the project, which will more than double the company’s UAE production capacity of the supercooled fuel to around 15 million tonnes per annum as it builds its international LNG portfolio, an Abu Dhabi Media Office (Admo) statement said on Wednesday.
Adnoc Gas, the integrated gas processing unit of Adnoc, will acquire the parent company's majority stake in Ruwais LNG, its chief executive told The National, without providing a time frame.
“In addition to taking a majority equity stake in Ruwais LNG, Adnoc Gas will oversee its construction and operate the world-class plant after it is commissioned in 2028,” said Ahmed Alebri.
Adnoc on Wednesday also signed long-term LNG sales agreements with international partners.
That includes a deal for the delivery of one million tonnes per annum with Shell and 600,000 tonnes per annum with Mitsui, bringing the percentage of LNG production capacity that has been committed as offtake agreements to 70 per cent.
The financial value of the deals was not disclosed.
Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, discussed the future of the energy sector with global energy company leaders, emphasising the UAE's progress in tackling energy challenges through investments in clean and lower-carbon projects.
The Ruwais plant, currently under development in Abu Dhabi’s Al Ruwais Industrial City, will consist of two 4.8 million tonnes-per-annum LNG liquefaction trains with a total capacity of 9.6 million tonnes per annum. Start-up is expected in the second half of 2028.
“As natural gas demand continues to increase, this world-class project will enable us to provide more lower-carbon gas to meet growing demand today while helping the world transition to a cleaner energy future,” said Dr Sultan Al Jaber, Adnoc’s managing director and group chief executive.
Adnoc, responsible for almost all of the UAE’s oil production, is looking to position itself as a major player in the LNG market, as demand for the fuel is projected to grow over the next few decades.
In May, the company acquired a 11.7 per cent stake in phase one of NextDecade’s Rio Grande LNG export project in Texas, marking its first investment in the US.
In the same month, Adnoc also acquired a 10 per cent stake in Portuguese energy company Galp’s Area 4 concession of the Rovuma Basin in Mozambique. The acquisition will give the company access to a share of the LNG production from the concession, which has a combined capacity of more than 25 million tonnes per annum.
LNG is seen as a cleaner alternative to other fossil fuels, and countries such as India and China are hoping to grow the share of natural gas in their energy mix.
Global LNG demand is projected to increase by more than 50 per cent by 2040, driven by industrial coal-to-gas switching in China and increased LNG use in South Asian and South-East Asian countries to support economic growth, according to Shell’s LNG Outlook released in February.
“This investment decision builds on our long-standing partnership with Adnoc,” Wael Sawan, Shell’s chief executive said in a separate statement.
“In line with our strategy to create more value with less emissions, we are investing in additional LNG capacity … with energy-efficient and carbon-competitive projects.”
As one of the world’s lowest-carbon intensity LNG plants, the Ruwais facility will allow natural gas to “fully play its role of transition fuel”, added Patrick Pouyanne, chairman and chief executive of TotalEnergies.
In April, Adnoc Gas announced its aim to more than double its LNG output capacity by 2028 through the strategic acquisition of Ruwais LNG, along with potential purchases of assets in Europe, India, China, and South-east Asia.
The company, which has access to 95 per cent of the UAE's natural gas reserves, signed LNG export agreements worth up to $12 billion in 2023.
Last year, it also awarded contracts worth $4.9 billion to expand its processing capacity.
The launch of Ruwais LNG comes amid concerns about a potential glut in the global LNG market, with several large projects set to come online in the next few years.
“We are prepared for any abnormalities in the market itself, especially when we talk about the years beyond 2027,” Mr Alebri said.
He said there are many uncertainties in the market, including whether projects being built in Asia, Australia and the US will be completed on time or delayed.
Directed by Sam Mendes
Starring Dean-Charles Chapman, George MacKay, Daniel Mays
4.5/5
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
Killing of Qassem Suleimani
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
RESULTS FOR STAGE 4
Stage 4 Dubai to Hatta, 197 km, Road race.
Overall leader Primoz Roglic SLO (Team Jumbo - Visma)
Stage winners: 1. Caleb Ewan AUS (Lotto - Soudal) 2. Matteo Moschetti ITA (Trek - Segafredo) 3. Primoz Roglic SLO (Team Jumbo - Visma)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Read more about the coronavirus
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
The years Ramadan fell in May
KILLING OF QASSEM SULEIMANI
Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
The years Ramadan fell in May
RACE CARD
4pm Al Bastakiya – Listed (TB) $150,000 (Dirt) 1,900m
4.35pm Dubai City Of Gold – Group 2 (TB) $228,000 (Turf) 2,410m
5.10pm Mahab Al Shimaal – Group 3 (TB) $228,000 (D) 1,200m
5.45pm Burj Nahaar – Group 3 (TB) $228,000 (D) 1,600m
6.20pm Jebel Hatta – Group 1 (TB) $260,000 (T) 1,800m
6.55pm Al Maktoum Challenge Round-1 – Group 1 (TB) $390,000 (D) 2,000m
7.30pm Nad Al Sheba – Group 3 (TB) $228,000 (T) 1,200m
UAE currency: the story behind the money in your pockets
The%20Kitchen
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Mohammed bin Zayed Majlis
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
Killing of Qassem Suleimani
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
Mohammed bin Zayed Majlis
RESULT
Brazil 2 Croatia 0
Brazil: Neymar (69'), Firmino (90' 3)
More coverage from the Future Forum
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
RESULTS
Welterweight
Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)
(Unanimous points decision)
Catchweight 75kg
Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)
(Second round knockout)
Flyweight (female)
Manon Fiorot (FRA) beat Corinne Laframboise (CAN)
(RSC in third round)
Featherweight
Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki
(Disqualification)
Lightweight
Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)
(Unanimous points)
Featherweight
Yousef Al Housani (UAE) beat Mohamed Fargan (IND)
(TKO first round)
Catchweight 69kg
Jung Han-gook (KOR) beat Max Lima (BRA)
(First round submission by foot-lock)
Catchweight 71kg
Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)
(TKO round 1).
Featherweight title (5 rounds)
Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
(TKO round 1).
Lightweight title (5 rounds)
Bruno Machado (BRA) beat Mike Santiago (USA)
(RSC round 2).
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Zayed Sustainability Prize
UAE currency: the story behind the money in your pockets
RESULTS
Light Flyweight (48kg): Alua Balkibekova (KAZ) beat Gulasal Sultonalieva (UZB) by points 4-1.
Flyweight (51kg): Nazym Kyzaibay (KAZ) beat Mary Kom (IND) 3-2.
Bantamweight (54kg): Dina Zholaman (KAZ) beat Sitora Shogdarova (UZB) 3-2.
Featherweight (57kg): Sitora Turdibekova (UZB) beat Vladislava Kukhta (KAZ) 5-0.
Lightweight (60kg): Rimma Volossenko (KAZ) beat Huswatun Hasanah (INA) KO round-1.
Light Welterweight (64kg): Milana Safronova (KAZ) beat Lalbuatsaihi (IND) 3-2.
Welterweight (69kg): Valentina Khalzova (KAZ) beat Navbakhor Khamidova (UZB) 5-0
Middleweight (75kg): Pooja Rani (IND) beat Mavluda Movlonova (UZB) 5-0.
Light Heavyweight (81kg): Farida Sholtay (KAZ) beat Ruzmetova Sokhiba (UZB) 5-0.
Heavyweight (81 kg): Lazzat Kungeibayeva (KAZ) beat Anupama (IND) 3-2.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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Mohammed bin Zayed Majlis
Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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Zayed Sustainability Prize
