United Arab Emirates: TotalEnergies Strengthens its Position in the Emirates through its Partnership in Ruwais LNG
10 Juillet 2024 - 2:13PM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) joins, with a 10%
interest, the Ruwais LNG project alongside national company ADNOC
(60%), Shell (10%), bp (10%) and Mitsui (10%).
Launched by ADNOC in June 2024, Ruwais LNG is a liquefied
natural gas (LNG) project located in Al Ruwais Industrial city, in
Abu Dhabi. The project includes two liquefaction trains with a
total capacity of 9.6 million tons per year. Start-up is expected
in the second half of 2028.
The project applies the highest standards to reduce emissions:
its full-electric liquefaction trains will be supplied with clean
power by the UAE’s grid, making it one of the world’s lowest-carbon
intensity LNG plants. The facility will also leverage the latest
technologies to enhance safety, drive efficiency and minimize
emissions.
“We are delighted to join forces with our long-standing partner
ADNOC on the development of this new LNG project. Last year at
COP28, TotalEnergies and ADNOC both committed to lead the Oil &
Gas Decarbonization Charter to reduce the industry’s GHG emissions.
With Ruwais LNG, we are putting this principle into practice with
one of the world’s lowest-carbon intensity LNG plants, allowing
natural gas to fully play its role of transition fuel", said
Patrick Pouyanné, Chairman and CEO of TotalEnergies.
“We are delighted to welcome bp, Mitsui & Co., Shell, and
TotalEnergies as partners in ADNOC’s Ruwais LNG project, which will
be one of the world’s lowest carbon-intensive LNG facilities. As
natural gas demand continues to increase, this world-class project
will enable us to provide more lower-carbon gas to meet growing
demand today while helping the world transition to a cleaner energy
future. Additionally, the project will accelerate development in Al
Ruwais Industrial City, boost the local industrial ecosystem and
create more skilled private sector jobs for UAE Nationals”, said
His Excellency Dr. Sultan Ahmed Al Jaber, ADNOC Managing
Director and Group CEO.
***
TotalEnergies, the world’s third largest LNG player
TotalEnergies is the world’s third largest LNG player with a global
portfolio of 44 Mt/y in 2023 thanks to its interests in
liquefaction plants in all geographies. The Company benefits from
an integrated position across the LNG value chain, including
production, transportation, access to more than 20 Mt/y of
regasification capacity in Europe, trading, and LNG bunkering.
TotalEnergies’ ambition is to increase the share of natural gas in
its sales mix to close to 50% by 2030, to reduce carbon emissions
and eliminate methane emissions associated with the gas value
chain, and to work with local partners to promote the transition
from coal to natural gas.
TotalEnergies in the United Arab Emirates TotalEnergies
has been present in the United Arab Emirates for 85 years and is
today one of the first foreign companies active in the country. In
the Upstream sector, through its longstanding partnership with
ADNOC, TotalEnergies in the UAE is one of the main contributors to
the Company’s hydrocarbon production with 354,000 boe/d in 2023.
TotalEnergies in the UAE continues to grow in the renewable sector,
especially in the field of distributed generation where it holds a
leading position. The Company has also a top position in the
manufacturing and marketing of a wide range of automotive and
industrial lubricants with a blending plant, supplying the whole
region. Societal and sustainable development is key for
TotalEnergies in the UAE: the Company is actively committed with
stakeholders such as Environment Agency Abu Dhabi, Emirates
Foundation, ADMAF and is involved with UAE universities for the
development of Emirati youth.
About TotalEnergies TotalEnergies is a global integrated
energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries,
TotalEnergies places sustainability at the heart of its strategy,
its projects and its operations.
@TotalEnergies TotalEnergies TotalEnergies
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Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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