Page 32 - Baker Hughes REPORT - OCTOBER 2023

10/11/23, 5:15 PM Adnoc awards $400m contract to Baker Hughes for Ruwais LNG plant
The LNG project consists of two natural gas liquefaction trains with a total
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capacity of 9.6 million metric tonnes per annum.
Adnoc Gas reports drop in first-
half profit due to lower price When completed, it will more than double Adnoc’s LNG production capacity
environment amid growing global demand for natural gas.
Adnoc Gas signs $450m-$550m
LNG supply deal with PetroChina Adnoc had previously said the Ruwais plant will run on renewable and nuclear
Adnoc to build new low-carbon grid power.
LNG plant in Ruwais
Ruwais, which is at the centre of Adnoc’s downstream ambitions, has been
earmarked for a multibillion-dollar expansion that will expand its refining
capacity to 1.5 million barrels per day by 2025, making it the largest refiner in terms of capacity.

Adnoc Gas, a unit of Adnoc, has access to 95 per cent of the UAE's natural gas reserves, estimated to be the
seventh-largest globally. It also supplies more than 60 per cent of the country's gas needs.
Last month, Adnoc Gas signed an agreement to supply LNG worth $450 million to $550 million to a subsidiary
of state-owned energy company PetroChina.

In August, it signed a five-year LNG supply agreement with Japan Petroleum Exploration, also valued at
between $450 million and $550 million.
In July, the Adnoc subsidiary announced a 14-year supply agreement with the Indian Oil Corporation, the South
Asian country’s largest refiner.
Competition for LNG has increased since Russia's invasion of Ukraine last year, with Europe importing record
volumes of the supercooled fuel to replace Moscow's gas supplies.

Global LNG trade hit a high of $450 billion in 2022 amid a surge in European demand, according to the
International Energy Agency.

Updated: October 05, 2023, 9:59 AM

ADNOC GAS

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