The companies are expected to get the offtake at a lower price compared to the market, but with less flexibility, Reuters reported
ADNOC’s Ruwais facility is expected to be the region’s first LNG export facility to run on clean power
ADNOC has sharpened its focus on natural gas, seeing it as a transition fuel, as the world tries to curb planet-warming emissions
The integrated plant will produce 940 thousand tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360 thousand tons of PVC annually
The facility which will likely be operational by 2025, will have a capacity of up to 1 million tons per annum
Upon completion in mid-2022, the upgrade will allow ADNOC to process up to 420,000 bpsd of heavier and sourer grades of crude oil in Ruwais
Prior to the pandemic, the plant had been mostly targeting Europe for sales of low-sulfur diesel and jet fuel