Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

ADNOC signs LNG delivery agreement

The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project.
  • The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project, currently being developed in Al Ruwais Industrial City, Abu Dhabi.
  • The Ruwais LNG project is set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power.

Abu Dhabi, UAE — ADNOC Wednesday said it has signed a 15-year agreement with ENN LNG (Singapore), a wholly owned subsidiary of ENN Natural Gas, for the delivery of at least 1 million metric tons per annum (mmtpa) of liquefied natural gas (LNG).

The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project, currently being developed in Al Ruwais Industrial City, Abu Dhabi. The deliveries are expected to start in 2028 upon the commencement of the facility’s commercial operations.

The Ruwais LNG project is set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power, making it one of the lowest-carbon intensity LNG plants in the world, supporting ADNOC’s accelerated Net Zero by 2045 ambition.

When completed, the project, which consists of two 4.8 mmtpa LNG liquefaction trains with a total capacity of 9.6 mmtpa, will more than double ADNOC’s LNG production capacity to help meet the increased global demand for natural gas.

The LNG agreement is contingent upon a final investment decision (FID) on the project, including regulatory approvals and the negotiation of a definitive Sale and Purchase Agreement between the two companies.

Rashid Khalfan Al Mazrouei, ADNOC Senior Vice President of Marketing, said, “This landmark LNG agreement from our ongoing Ruwais LNG project enhances ADNOC’s position as a reliable and responsible global energy provider and creates new opportunities for value-creation across our gas value chain as natural gas demand continues to increase.