Search Site

Trends banner

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.

ADNOC L&S okays $273m dividend

The final dividend of $136.5m will be paid on April 3.

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.

BYD surpasses Tesla with record revenue

The Chinese EV giant's net profit was $5.55 billion for 2024.

ADNOC Gas awards contracts

ADNOC Gas delivered strong financial results in 2024, reporting a record adjusted net income of $5 billion. (WAM)
  • The LPP and compression facilities will be located within ADNOC Gas’ Habshan 5 plant, part of one of the world’s largest integrated gas processing complexes.
  • The largest contract, valued at $1.24 billion for the LPP, was awarded to a consortium consisting of Engineering for the Petroleum and Process Industries (ENPPI) and Petrojet.

Abu Dhabi, UAE — ADNOC Gas has awarded three enabling contracts worth $2.1 billion (AED8 billion) for an LNG pre-conditioning plant (LPP), compression facilities and transmission pipelines to supply feedstock to the Ruwais LNG Project.

The LPP and compression facilities will be located within ADNOC Gas’ Habshan 5 plant, part of one of the world’s largest integrated gas processing complexes.

The five plants of the Habshan Complex have a combined capacity to process 6.1 billion standard cubic feet of gas per day. The newly awarded transmission pipelines will connect the Habshan Complex with the Ruwais LNG facility.

The largest contract, valued at $1.24 billion for the LPP, was awarded to a consortium consisting of Engineering for the Petroleum and Process Industries (ENPPI) and Petrojet.

A $514 million contract for transmission pipelines was awarded to the China Petroleum Pipeline Engineering Company, while Petrofac Emirates will develop the new compression facilities under a $335 million contract.

ADNOC Gas is developing the Ruwais LNG project on behalf of its largest shareholder, ADNOC. The capital expenditure (CAPEX) for the LPP, compression facilities and transmission pipelines, does not form part of the costs previously outlined by ADNOC Gas for its intended acquisition of ADNOC’s majority stake in the Ruwais LNG project once the plant becomes operational in 2028.

The three contracts will establish the key infrastructure needed to supply feedstock to the Ruwais LNG export facility. This investment is part of the $15 billion CAPEX plan through 2029, as outlined in ADNOC Gas’ recent strategy update.

When it becomes fully operational, the Ruwais LNG plant will more than double ADNOC Gas’ current LNG production capacity to more than 15 million tonnes per annum (mtpa). The export facility will feature two liquefaction trains, each with a processing capacity of 4.8 mtpa, powered by clean grid electricity—a first in the Middle East and North Africa region.

Upon completion, Ruwais LNG will be one of the lowest-carbon intensity LNG plants in the world, leveraging artificial intelligence and other advanced digital technologies to enhance safety, minimize emissions and drive efficiency.