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Adnoc Aiming for FID on Ruwais LNG in H1 2024

LNG

Abu Dhabi National Oil Co. is aiming to reach a final investment decision on the new Ruwais LNG project in the first half of 2024 according to Bloomberg sources.

  • The company has previously stated the aim to begin exports from 2028.
  • Most of the supply from the project remains uncontracted with only some long-term supply deals in place with China’s ENN Natural Gas and GAIL India Ltd, according to BNEF.
  • Adnoc aims to use its own funds to back the plan instead of using banks to provide financing. This is similar to how Qatar is supporting its expansion.
  • The Ruwais facility will more than double Adnoc’s LNG export capacity.

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