Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has chaired a meeting of the Executive Committee of the ADNOC Board of Directors.
During the meeting, Sheikh Khaled approved the Final Investment Decision (FID) for ADNOC’s low-carbon liquefied natural gas (LNG) project in Ruwais and the award of an engineering, procurement and construction (EPC) contract for the project, at a cost of approximately $5.5 billion (US$1.5 billion dirhams).
Located in Al Ruwais Industrial City in Al Dhafra district of Abu Dhabi, the project will be the first LNG export facility in the Middle East and North Africa (MENA) region to be powered by clean energy, making it one of the world’s lowest-carbon LNG export facilities in the world.
Sheikh Khaled noted that the project will strengthen ADNOC’s position as a reliable global supplier of natural gas and accelerate the development of Al Ruwais Industrial City by attracting investment and stimulating the local industrial ecosystem. The project will procure highly specialised equipment and materials, with 55% of the EPC contract value being returned to the UAE economy through the ADNOC In-Country Value (ICV) programme, thereby stimulating economic and industrial growth and skilled private sector jobs for the Emirates.
During the meeting, Sheikh Khaled commended ADNOC’s recent strategic acquisitions of large-scale low-carbon LNG projects in the United States (US) and Mozambique, was briefed on growth projects across ADNOC’s value chain, and directed the company to continue to focus on targeted growth locally and internationally to meet growing energy demands.
Sheikh Khaled also reviewed ADNOC’s strategy to further integrate artificial intelligence (AI) and technology into its business to create greater value and provide the world with smarter, cleaner and safer energy. As part of this strategy, ADNOC is leveraging its low-carbon energy portfolio to drive the growth of artificial intelligence, while accelerating the integration and deployment of artificial intelligence solutions across the value chain to create value, reduce emissions and ensure people’s safety.
The EPC contract for the Ruwais LNG project has been awarded to a joint venture led by Technip Energies in collaboration with JGC Corporation and NMDC Energy. The Ruwais LNG project will consist of two LNG liquefaction trains with a capacity of 4.8 million tonnes per year and a total capacity of 9.6 million tonnes per year, more than doubling ADNOC’s existing LNG production capacity in the UAE to approximately 15 million tonnes per year as the company expands its international LNG portfolio. The plant will use artificial intelligence (AI) and the latest technology to enhance safety, minimise emissions and improve efficiency.
Other members present at the meeting were H.E. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director of ADNOC and Group CEO; H.E. Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure; H.E. Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company; and H.E. Jasem Mohammed Bouatabah Al Zaabi, Chairman of the Abu Dhabi Department of Finance.