Shell to invest in Ruwais LNG project in Abu Dhabi

Shell Overseas Holdings Limited, a subsidiary of Shell plc (SHEL), has signed an agreement to invest in the Abu Dhabi National Oil Company’s, or ADNOC, Ruwais liquefied natural gas, or LNG, project in Abu Dhabi through a 10% participating interest. The Ruwais LNG project will consist of two 4.8 million metric tonnes per annum LNG liquefaction trains with a total capacity of 9.6 mmtpa. Shell, through its subsidiary Shell International Trading Middle East Limited FZE, has also signed an agreement to offtake 1 mmtpa of LNG produced by the project. ADNOC will hold a majority 60% share in the project and serve as the lead developer and operator of the facility, while Shell, BP (BP), Mitsui and TotalEnergies (TTE) will each hold 10%. “This investment decision builds on our long-standing partnership with ADNOC. In line with our strategy to create more value with less emissions, we are investing in additional LNG capacity and further growing our world-leading LNG portfolio, with energy-efficient and carbon-competitive projects,” said Shell’s Chief Executive Officer Wael Sawan.