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Abu Dhabi National Oil Co. (Adnoc) has reached a final investment decision (FID) and will move ahead with its Ruwais LNG export project that’s expected to come online in 2028 and add to a wave of global supply entering service later this decade.
Adnoc also awarded an engineering, procurement and construction (EPC) contract valued at $5.5 billion to a joint venture of Technip Energies NV, JGC Corp. and NMDC Energy. Technip is to lead the group.
The project is being developed in Al Ruwais Industrial City and comes at a time when global liquefaction capacity is set to grow by more than 100 million metric tons (mmt) of annual capacity by 2028, primarily because of projects under construction in the United States and Qatar.
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