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Shell, TotalEnergies and Mitsui Seeking Stakes in Ruwais LNG

LNG

Shell Plc, TotalEnergies SE and Mitsui & Co. are in talks to buy stakes in the Adnoc Ruwais LNG export project in the United Arab Emirates, according to Bloomberg sources

  • The companies are looking for equity in the facility, as well as LNG supply contracts from it.
  • The Ruwais project is currently fully owned by Adnoc and doesn’t require investment from the energy companies to progress so the company may decide not to sell equity.
  • Adnoc has signed enough preliminary and final supply agreements to reach a final investment decision which could be expected as soon as next month.
  • The facility will more than double the UAE’s total output with a capacity to export 9.6 million tons of LNG per year.
Energy BulletsCommodities
Energy BulletsCommodities

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