Adnoc is shaking up ownership of its 9.6mn t/y Ruwais LNG project transferring its 60% stake to its Adnoc Gas subsidiary “at cost – estimated to be around $5bn – in the second half of 2028.” This implies a valuation of around $8.3bn for the plant as a whole.
Adnoc Gas, in its 11 November release announcing the deal, says that the first of the plant’s two 4.8mn t/y trains is due online in 2H 2028 with the second to follow in “early 2029.” (CONTINUED - 237 WORDS)