Adnoc signed a 15-year 1mn t/y LNG sales and purchase agreement with Shell on the sidelines of Adipec this week. Volumes will come from the under construction 9.6mn t/y Ruwais LNG terminal that is due online in 4Q 2028. This is Adnoc’s first long-term sales deal with Shell, which is a stakeholder in the joint-venture project (Adnoc 60%, BP 10%, Mitsui 10%, Shell 10%, TotalEnergies 10%).
The deal is the eighth long-term deal signed for Ruwais volumes, bringing the total capacity allocated under long-term deals to 8mn t/y. “Securing over 80% of Ruwais LNG’s capacity in just over a year from FID is a remarkable achievement,” says Adnoc Gas CEO Fatema al-Nuaimi, “While the industry can take up to four or five years to market such volumes, Ruwais is advancing at record pace.” (CONTINUED - 198 WORDS)