Gas

ADNOC signs LNG agreement to deliver 1 mmtpa of LNG

The deliveries are expected to start in 2028. (Image source: Adobe Stock)

ADNOC announced the signing of a 15-year Heads of Agreement (LNG agreement) with ENN LNG (Singapore) Pte. Ltd. (ENN LNG), a wholly owned subsidiary of ENN Natural Gas Co. Ltd. (ENN Natural Gas), for the delivery of at least 1 mn 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 under development in Al Ruwais Industrial City, Abu Dhabi. The deliveries are expected to start in 2028, upon commencement of the facility’s commercial operations.

Rashid Khalfan Al Mazrouei, ADNOC senior vice president-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. We are making excellent progress in delivering this strategic project as we grow our portfolio of lower-carbon energy solutions to enable the energy transition and we will continue to support our customers and partners on this journey.”

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 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.

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Mellitah consortium signs deal with Saipem on billion dollar gas project in Libya

Saipem has been awarded a new contract by Mellitah Oil & Gas BV Libyan Branch, a consortium formed by National Oil Corporation of Libya and Eni North Africa, for the development of the Bouri Gas Utilisation Project (BGUP), worth approximately US$1bn

Saipem will undertake revamping of the platforms and of the facilities of the Bouri gas field, which lies in water depths between 145 m and 183 m, offshore the Libyan coast. The contract entails the engineering, procurement, construction, installation and commissioning (EPCIC) of an approximately 5,000-ton Gas Recovery Module (GRM), onto the existing DP4 offshore facility, together with the laying of 28 km of pipelines connecting the DP3, DP4 and Sabratha platforms.

The main lifting operations will be executed by the semi-submersible crane vessel Saipem 7000. With this award, Saipem confirms its commitment and competitive positioning offshore Libya. The completion of the project will make an important contribution to reducing CO2 emissions in Libya.

Pursuant to Article 6 of the Consob Regulation on related party transactions, Saipem informs that the above transaction qualifies as a related party transaction, since Eni S.p.A. jointly controls both Saipem and Mellitah Oil & Gas BV. The transaction, which qualifies as a transaction of greater importance pursuant to the Management System Guideline Transactions with Related Parties and Parties of Interest adopted by Saipem, falls under the exclusion provided for by Article 9 of the mentioned procedure and Article 13, paragraph 3, letter c) of the aforementioned Consob Regulation, as it is a regular transaction completed in market-equivalent or standard terms.

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is One Company organised into five business lines - Asset Based Services, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions. The company has nine fabrication yards and an offshore fleet of 29 construction vessels (of which 26 owned and three owned by third parties and managed by Saipem) and 15 drilling rigs, of which eight owned. Always oriented towards technological innovation, the company’s purpose is Engineering for a sustainable future. As such Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 120 nationalities.

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