Recently, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, engaged in discussions with leaders of global energy companies. The discussion focused on the future of the energy sector, the UAE's dedication to sustainability, the adoption and implementation of cutting-edge innovations, and the importance of international collaboration.

His Highness also presided over the signing ceremony where international partners joined ADNOC in its Ruwais liquefied natural gas (LNG) project, aimed at reducing carbon intensity.

bp, Mitsui & Co., Shell, and TotalEnergies will acquire a 10% equity stake each in the Ruwais LNG project, while ADNOC will retain a majority stake of 60%. ADNOC has also finalized new long-term LNG sales agreements with global partners. Shell committed to purchasing 1 million tonnes per annum (mtpa) and Mitsui & Co. committed to 0.6 mtpa, bringing the total committed production capacity of Ruwais LNG to 70%.

The collaboration underscores Abu Dhabi's reputation as a reliable investment hub and strengthens the commitment made by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Chairman of ADNOC's Executive Committee, who endorsed the Final Investment Decision (FID) for the Ruwais LNG project last month.

The agreement was signed by Dr. Sultan Ahmed Al Jaber, Managing Director and Group CEO of ADNOC; Murray Auchincloss, CEO of bp; Kenichi Hori, President and CEO of Mitsui & Co.; Wael Sawan, CEO of Shell; and Patrick Pouyanné, Chairman and CEO of TotalEnergies.

During the meeting and signing ceremony, His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan emphasized Abu Dhabi's appeal to international investors in the energy sector. He also underscored the UAE leadership's dedication to leveraging innovative technological solutions to drive sustainable economic growth across the nation.

His Highness emphasized that the UAE is actively tackling energy challenges through investments in clean and lower-carbon intensity projects. He highlighted the nation's collaboration with globally recognized partners to promote long-term growth in vital industries.

His Highness also reaffirmed the UAE leadership's commitment to improving efficiencies and enhancing workforce capabilities through ongoing investments in research and development and artificial intelligence (AI). He underscored the significance of strategic partnerships in exchanging knowledge and expertise, which are crucial for unlocking new innovations in the energy transition.

"We are pleased to welcome bp, Mitsui & Co., Shell, and TotalEnergies as partners in ADNOC’s Ruwais LNG project, set to become one of the world’s most carbon-efficient LNG facilities," stated H.E. Dr. Al Jaber. " Amid increasing global natural gas demand, this transformative project will bolster our ability to deliver lower-carbon gas to meet current demands and contribute to the global transition towards cleaner energy. Furthermore, the project will spur development in Al Ruwais Industrial City, bolster the local industrial ecosystem, and generate skilled jobs for UAE Nationals in the private sector."

The Ruwais LNG project, located in Al Ruwais Industrial City, Al Dhafra, Abu Dhabi, is poised to become the first LNG export facility in the Middle East and North Africa (MENA) region powered by clean energy. Utilizing cutting-edge technologies and artificial intelligence (AI), the project aims to minimize emissions and enhance operational efficiency.

Comprising two 4.8 million tonnes per annum (mtpa) LNG liquefaction trains, the facility will have a combined capacity of 9.6 mtpa. Natural gas plays a pivotal role as a transitional fuel, offering lower-carbon emissions compared to traditional fossil fuels. The project will significantly boost ADNOC’s UAE LNG production capacity, increasing it to approximately 15 mtpa, thereby expanding the company’s international LNG portfolio.

bp, Mitsui & Co., Shell, and TotalEnergies' participation in the project is subject to customary regulatory approvals.