on TOTALENERGIES (EPA:TTE)
TotalEnergies Expands in the UAE with Ruwais LNG Partnership
TotalEnergies has acquired a 10% stake in the Ruwais LNG project in Abu Dhabi, UAE. The project, launched by ADNOC in June 2024, is set to feature two liquefaction trains with a combined capacity of 9.6 million tons per year. Shell, bp, and Mitsui also hold 10% each, while ADNOC retains a 60% share.
The Ruwais LNG facility aims to be a low-carbon plant, leveraging clean power from the UAE’s grid for its full-electric liquefaction trains. Advanced technologies will be employed to enhance safety, efficiency, and minimize emissions, aligning with commitments made at COP28 to reduce greenhouse gas emissions in the oil and gas sector.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, emphasized the company's dedication to the Oil & Gas Decarbonization Charter. Dr. Sultan Ahmed Al Jaber, CEO of ADNOC, highlighted the project’s role in meeting the rising demand for lower-carbon gas while contributing to the economic development of Al Ruwais Industrial City and creating private sector jobs for UAE Nationals.
R. H.
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