ADNOC entered agreements farming out a 40% ownership in its largest gas liquefaction project to BP, Mitsui, Shell and TotalEnergies. #OilandGas #OilMarket #ADNOC
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Investor Relations Manager @ Eastlake Exploration & Production Limited, Treasury Manager, Finance Manager, Oil & Gas, Upstream, Financial Analyst, Banker,, Auditor, Planning & Forecasting, Budgeting, Financial Reporting
Here are additional insights and considerations that further highlight the significance of this project: 1. Strategic Partnerships • Risk Mitigation: By distributing the financial and operational risks among multiple stakeholders, the project can better navigate market fluctuations and geopolitical uncertainties. • Synergy and Expertise: Each company brings unique strengths and expertise, from Shell’s extensive LNG experience to BP’s advanced technological capabilities, Mitsui’s trading acumen, and TotalEnergies’ focus on sustainability. This synergy can enhance the project’s overall efficiency and innovation. 2. Capacity and Scope • Market Influence: With a capacity of 9.6 mmtpa, the Ruwais LNG project will significantly influence the global LNG supply chain, potentially stabilizing prices and ensuring supply security for importing nations. • Energy Transition: The scale of this project underscores LNG’s role as a transitional fuel that can help bridge the gap between high-emission fossil fuels and renewable energy sources. 3. Innovative Technology • Electric-Powered Liquefaction: Utilizing electric-powered liquefaction systems reduces the project’s carbon footprint, making LNG production more sustainable. • Renewable Integration: Access to renewable power sources for project operations aligns with global decarbonization goals, setting a precedent for future LNG projects to incorporate renewable energy. 4. Economic Impact • Local Development: The project will create numerous direct and indirect jobs, fostering economic growth and skill development in the region. • Infrastructure Enhancement: Investments in infrastructure, such as transportation and utilities, will benefit the broader community and support other industrial activities in Al Ruwais Industrial City. 5. Long-Term Vision • Supply Security: The long-term commitment to LNG deliveries starting in 2028 ensures a stable supply for global markets, which is crucial for countries transitioning away from coal and oil. • Strategic Planning: This long-term vision allows for strategic planning and investment in complementary infrastructure, such as regasification terminals and distribution networks. 6. Emission Reduction Goals • Corporate Sustainability: The project aligns with the sustainability strategies of the involved companies, who are increasingly focused on reducing their carbon footprints and meeting environmental, social, and governance (ESG) criteria. • Global Climate Goals: By contributing to lower global emissions, the project supports international climate agreements, such as the Paris Agreement, and helps countries meet their national determined contributions (NDCs). Additional Insights: • Geopolitical Influence: The UAE’s strengthened position in the global LNG market can enhance its geopolitical influence, providing leverage in international energy discussions and negotiations.
Shell, bp, Mitsui & Co., Ltd. and TotalEnergies have agreed to each take a 10% participating interest in ADNOC Group's Ruwais liquefied natural gas #LNG project in the United Arab Emirates. #oilandgas
Shell, BP, Mitsui, TotalEnergies Each Take 10% Share of ADNOC’s Ruwais LNG Scheme
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The oil and gas industry has been a key player in the global economy for decades. It has been a major contributor to global energy needs and has driven the growth and development of many countries worldwide. The industry has faced various challenges in recent years, including fluctuating oil prices, increased regulations, and a growing shift toward renewable energy sources. Despite these challenges, the world's largest oil and gas companies continue to thrive, with a few players dominating the industry #energy #commodities #trading Saudi Aramco Total Refining and Petrochemical Company (SATORP) ExxonMobil Chevron ShellPetroChina International (Singapore) TotalEnergies ConocoPhillips bp SINOPEC Eni
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Australian LNG update! INPEX Corporation has announced plans to acquire Tokyo Gas’ 1.575% stake in the Ichthys LNG project. INPEX chose to exercise its pre-emption rights for the stake after Tokyo Gas agreed to sell its stakes in four Australian LNG projects, including Ichthys LNG, to MidOcean Energy in 2022. Ichthys LNG’s output is growing through development drilling and debottlenecking, before the project’s 3rd train starts up ~2030. INPEX and TotalEnergies secured additional feed gas supply through the acquisition of the Cash-Maple fields, containing ~3.5 Tcf of resource, last year. INPEX’s regional LNG supply will further ramp up in the early-2030s, when the Abadi LNG project starts in Indonesia.
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ADNOC Group signs long-term deal to supply LNG to Germany’s SEFE Marketing & Trading Ltd This agreement marks the second long-term liquefied natural gas (LNG) supply contract for the Ruwais LNG project. ADNOC executive vice-president, downstream business management, Fatema Alnuaimi said: “This LNG agreement, the first with a European company from the Ruwais lower-carbon LNG project, underscores ADNOC’s position as a reliable and responsible global energy provider. Sefe Marketing & Trading CEO and SEFE chief commercial officer Frederic Barnaud said: “SEFE and ADNOC have a long and productive partnership, spanning over 15 years. This LNG supply agreement for the Ruwais LNG project, set to be one of the lowest-carbon intensity LNG projects in the world, marks the start of a new chapter.” For the full article click the link below: https://lnkd.in/e35CH9yE #LNG #Ruwais #downstream #energy #future #lowcarbon
ADNOC signs long term deal to supply LNG to Germany’s SEFE
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How are leading oil and gas companies like aramco, bp, and ExxonMobil adapting to the evolving energy landscape? Murray Auchincloss, CEO of bp, and Amin Nasser, CEO of Saudi Aramco, share insights into their strategies for sustainable growth. #OilAndGas #EnergyTransition #MarketLeaders
Top 10: Oil and Gas Companies
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Investor Relations Manager @ Eastlake Exploration & Production Limited, Treasury Manager, Finance Manager, Oil & Gas, Upstream, Financial Analyst, Banker,, Auditor, Planning & Forecasting, Budgeting, Financial Reporting
Shell’s investment in the Ruwais LNG project in Abu Dhabi, in partnership with ADNOC and other major energy companies, marks a significant step in expanding its LNG portfolio with a focus on sustainability. Here are the key insights: 1. Strategic Partnership: Shell’s 10% stake in the Ruwais LNG project strengthens its long-standing partnership with ADNOC. This collaboration highlights the strategic alignment of both companies towards energy-efficient and carbon-competitive LNG projects. 2. Project Scale and Capacity: The Ruwais LNG project will feature two LNG liquefaction trains with a total capacity of 9.6 million metric tonnes per annum (mmtpa). This significant capacity will enhance the UAE’s position in the global LNG market. 3. Sustainability Focus: The project will use an electric-powered liquefaction system and renewable power supply, reducing operational emissions compared to traditional gas-powered facilities. This aligns with Shell’s strategy to create more value with fewer emissions and supports global efforts to transition to cleaner energy sources. 4. Offtake Agreement: Shell has signed an agreement to offtake 1 mmtpa of LNG produced by the Ruwais facility, ensuring a steady supply for its global LNG portfolio. This offtake agreement underscores Shell’s commitment to securing LNG resources to meet growing demand. 5. Consortium and Leadership: ADNOC will hold a majority 60% share and serve as the lead developer and operator of the facility. Shell, BP, Mitsui, and TotalEnergies each hold 10%, reflecting a strong consortium of experienced energy companies. 6. Construction and Timeline: The engineering, procurement, and construction (EPC) contract has been awarded to a Technip-led joint venture, with construction set to begin soon in Al Ruwais Industrial City, Abu Dhabi. LNG deliveries are expected to start in 2028, providing a clear timeline for project milestones. 7. Economic and Environmental Impact: The project is expected to boost local economic development in Al Ruwais Industrial City, creating jobs and enhancing the industrial ecosystem. Environmentally, the project’s design aims to set a benchmark for low-emission LNG facilities, contributing to the broader goal of reducing greenhouse gas emissions in the energy sector.
Shell has signed an agreement to invest in the ADNOC Group Ruwais LNG project in Abu Dhabi. The investment decision strengthens our leadership position in liquefied natural gas, while supporting our strategy to create more value with less emissions. Read more: https://lnkd.in/dSXRAaM6 #PoweringProgress
Shell to invest in Ruwais LNG project in Abu Dhabi | Shell Global
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I find this quite annoying. Companies making claims on "less emissions" in press announcements, and then not providing any concrete data to back this up. See for example this announcement by Shell in which they claim their LNG project is "carbon-competitive" (whatever that is) and has "lower operational emissions". No information is provided on: - what is the emission intensity of the LNG that is exported (from well to tanker)? - what does it mean to be "carbon-competitive"? what are the benchmarks? is that for the terminal only? for the exported LNG (well to tanker) or for the end-user? Only compared to other LNG suppliers? or also to pipeline alternatives? - what does it mean to have lower operational emissions? lower than who? it is great that renewable energy will be used to liquefy the gas; however, if the other operational emissions (between wellhead and LNG tanker) are high then the LNG may still not compare well against the competition. There is quite a bit of evidence from scientific articles and trade magazines that suggests that upstream emissions could be relatively high. Many gas fields in UAE contain natural CO2 and H2S and at the moment a lot of the co-produced CO2 is simply vented; there are some CCS projects that have been announced but it is unclear if and how that will impact the carbon intensity of this project and the exported LNG https://lnkd.in/eXM8buiW https://lnkd.in/eNMwPtwD UAE is not very transparent about their methane emissions; they make claims but apparently had not reported methane emissions yet in 2023 https://lnkd.in/ePxTH4-5 Bottom line: companies need to be much more transparent and publish carbon intensity calculations (and benchmark comparisons) IF they want to make claims of being low carbon, carbon competitive, lower operational emissions, etc. #carbontransparency
Shell has signed an agreement to invest in the ADNOC Group Ruwais LNG project in Abu Dhabi. The investment decision strengthens our leadership position in liquefied natural gas, while supporting our strategy to create more value with less emissions. Read more: https://lnkd.in/dSXRAaM6 #PoweringProgress
Shell to invest in Ruwais LNG project in Abu Dhabi | Shell Global
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Did you know? As per International Energy Agency ( IEA ), The Oil and Gas sector currently contributes around 15% of global energy-related emissions, equivalent to a staggering 5.1 billion tonnes of greenhouse gases. Addressing this is crucial for a sustainable Oil & Gas Industry. Connect with WOCE for innovative solutions, navigating sustainability challenges, and propelling your business towards a sustainable future. contact@worldofcirculareconomy.com EKI Energy Services Ltd (EnKing International) @EKIEnergy Indian Oil Corp Limited Hindustan Petroleum Corporation Limited Reliance Petroleum bp D. W. Oil Plants Ltd. (Subsidiary of Saudi Arabian Oil Co.) China Petroleum & Chemical Corporation (SINOPEC) PetroChina International ExxonMobil Shell TotalEnergies Recrutement Gérance station-service Chevron Marathon Petroleum Corporation Valero Energy Inc. #Sustainability #ClimateAction #WOCE #OnG #OilAndGas
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More value with less emmission.
Shell has signed an agreement to invest in the ADNOC Group Ruwais LNG project in Abu Dhabi. The investment decision strengthens our leadership position in liquefied natural gas, while supporting our strategy to create more value with less emissions. Read more: https://lnkd.in/dSXRAaM6 #PoweringProgress
Shell to invest in Ruwais LNG project in Abu Dhabi | Shell Global
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Shareables: #EIG’s MidOcean Energy to Acquire Additional 15% Interest in Peru LNG from Hunt Oil Company Business Wire India MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, and Hunt Oil Company (“Hunt”) announced today that they have entered into a definitive agreement whereby MidOcean will acquire an additional 15% interest in Peru LNG (“PLNG”) from Hunt. Following the closing of the transaction, MidOcean’s interest in PLNG will increase from 20% to 35%. Aramco played a pivotal role in the transaction, including undertaking key technical and commercial due diligence as well as engaging with key stakeholders […] - https://lnkd.in/g3arr99z 𝗖𝗹𝗶𝗰𝗸 𝘁𝗼 𝗝𝗼𝗶𝗻 𝘁𝗵𝗲 𝗙𝗮𝘀𝘁𝗲𝘀𝘁 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 - https://lnkd.in/gqWAqhyR #IndianConventions #TaleesRizvi #News #Awards #Conferences #India #HR #Marketing #Finance #StartUp #Business #B2B #B2C #C2C #D2C #leadership #Management #HumanResources #Healthcare
EIG’s MidOcean Energy to Acquire Additional 15% Interest in Peru LNG from Hunt Oil Company
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