Abu Dhabi's Adnoc has signed a long-term sales and purchase agreement with a unit of British energy major Shell for its Ruwais liquefied natural gas project.
The 15-year deal signed during the Adipec conference in Abu Dhabi on Tuesday, will be the Abu Dhabi oil company's first long-term agreement with Shell, for the delivery of up to one million tonnes per annum (mtpa) of LNG, Adnoc said in a statement.
The LNG will be primarily sourced from the Ruwais LNG project, currently under development in Al Ruwais Industrial City and the first LNG export facility in the Middle East and Africa region to operate on clean power.
Shell holds a 10 per cent stake in the project through its subsidiary, Shell Overseas Holdings.
Following the agreement, more than 8 mtpa of the Ruwais project’s planned 9.6 mtpa capacity has been secured through long-term deals with customers across Asia and Europe, just 16 months after the project’s final investment decision in July 2024, the company said.
This also sets a “new benchmark” for large-scale LNG projects globally, said Fatema Al Nuaimi, chief executive of Adnoc Gas.
“While the industry can take up to four or five years to market such volumes, Ruwais is advancing at record pace,” she said.
“This agreement with Shell marks a significant milestone that reinforces Adnoc’s position as a reliable global supplier of lower-carbon LNG.”
The agreement also marks Adnoc's eighth long-term offtake deal for the Ruwais LNG project. The first sales and purchase agreement was announced at last year's Adipec.
The latest SPA converts a previous heads of agreement into a definitive agreement, marking a “significant step” in Adnoc's efforts to rapidly commercialise the Ruwais LNG project.
“In parallel, construction, contractor mobilisation and site works are all on track for commissioning by the end of 2028,” Ms Al Nuaimi said.
The Ruwais LNG plant, intended to be one of the lowest-carbon intensity LNG projects in the world, will leverage artificial intelligence and the latest technology to enhance safety, operational efficiency and emissions performance.
With two 4.8 mtpa liquefaction trains, the facility will more than double the LNG production capacity of Adnoc Gas to approximately 15 mtpa, supporting its LNG expansion strategy to meet rising global demand.
London-based Shell, which has been Adnoc's partner for more than 50 years, “shares a vision of strengthening global energy security through strategic collaboration”, said Tom Summers, executive vice president of Shell LNG Marketing and Trading.
“This agreement is a significant milestone in our partnership with Adnoc and supports Shell’s strategy of expanding our LNG portfolio,” he said.
Adnoc Gas is a key player in parent company Adnoc’s strategy to enhance its natural gas production capacity and expand global LNG exports. It supplies about 60 per cent of the UAE’s gas sales needs and supplies end-customers in more than 20 countries.
The company, which has access to 95 per cent of the UAE’s natural gas reserves, is looking to boost exports of products such as LNG, liquefied petroleum gas and naphtha.
Killing of Qassem Suleimani
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
Tamkeen's offering
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The specs: 2018 Mitsubishi Eclipse Cross
Price, base / as tested: Dh101,140 / Dh113,800
Engine: Turbocharged 1.5-litre four-cylinder
Power: 148hp @ 5,500rpm
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Director: Elie Samaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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Tips to stay safe during hot weather
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MATCH INFO
Barcelona 4 (Messi 23' pen, 45 1', 48', Busquets 85')
Celta Vigo 1 (Olaza 42')
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
The specs
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- Price: Not announced yet
