Adnoc, Mitsui seal Ruwais LNG supply deal

Under the SPA, Mitsui will buy up to 0.6 million metric tonnes per annum of LNG, according to a statement by Adnoc.

Mitsui is also one of the international partners in the Ruwais LNG project.

Adnoc announced the final investment decision on the Ruwais project and the EPC award to the joint venture led by Technip Energies in June last year.

BP, Mitsui, Shell, and TotalEnergies agreed to buy a 10 percent equity stake in Adnoc’s LNG export terminal.

Fifth LNG SPA

Adnoc said this marks the fifth long-term LNG SPA for the Ruwais LNG project.

Before this SPA, Adnoc signed a 15-year sales and purchase agreement with Japan’s Osaka Gas.

Other deals are with German gas importer Securing Energy for Europe (SEFE), Malaysia’s Petronas, and Germany’s EnBW.

To date, up to 8 mtpa of the Ruwais LNG project’s 9.6 mtpa production capacity has been committed to international buyers across Asia and Europe through long-term arrangements, the firm said.

Moreover, Adnoc’s gas and LNG unit, Adnoc Gas, said in November 2024 that it expects to splash about $5 billion to buy a 60 percent operating interest from its parent Adnoc in the Al Ruwais LNG export plant.

Ruwais LNG is scheduled to start operations in 2028.

The LNG project will more than double Adnoc’s existing UAE LNG production capacity to around 15 mtpa, as the company builds its international LNG portfolio.

Adnoc currently owns a 70 percent stake in Adnoc LNG, which currently produces about 6 mtpa of LNG from its facilities on Das Island.