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Four international companies--Shell Plc, TotalEnergies SE, BP Plc and Mitsui & Co.will each take a 10% stake in Abu Dhabi National Oil Co.’s liquefied natural gas (LNG) export project plant in Ruwais, Bloomberg reported on Friday, citing sources.
Agreements may be signed as soon as next week, according to the report.
Representatives for ADNOC, Shell and TotalEnergies declined to comment. BP didn’t respond to a request for comment, and a spokesperson for Mitsui said that no decision has been made, the report said.
The UAE currently has just 5.8 million tonnes of LNG export capacity, the smallest of the region’s producers. The 9.6-million-ton-per year Ruwais plant will boost its capacity to the second-largest in the Middle East behind only Qatar, according to Bloomberg.
(Reporting by Brinda Darasha; editing by Seban Scaria)
