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Global Gas Perspectives: UAE’s well-timed LNG expansion
Qatar and the US were best-placed to capitalise on the global shortage of LNG. But the UAE will join them in expanding its capacity, after cutting domestic gas demand to free up supplies for export.
by: NGW
The UAE last month approved the construction of what will be the country’s biggest LNG export terminal, having successfully curbed its domestic gas demand in recent years to free up supplies for sale abroad. National oil company ADNOC took a final investment decision (FID) on the construction of a 9.6mn tonne/year facility in the industrial hub of Ruwais. The greenlight was followed up with agreements in July between ADNOC and BP, Mitsui & Co., Shell and TotalEnergies, giving each foreign company a 10% stake in the project. Moreover, ADNOC has also signed several new long-term sales contracts, including for the delivery of 1mn t/yr of LNG to Shell and 0.6mn t/yr of LNG to Mitsui. read more…