The Crown Prince of Abu Dhabi and the Abu Dhabi Executive Council Chairman, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, presided over an ADNOC Board of Directors Executive Committee meeting.
ADNOC’s Ruwais LNG project, which has a lower carbon intensity, received Sheikh Khaled’s endorsement during the meeting. ADNOC awarded an Engineering, Procurement, and Construction (EPC) contract for the project, estimated to be worth $5.5 billion (Dh20.2 billion).
Sheikh Khaled stated that by drawing investments and enhancing the regional industrial ecosystem, the project will strengthen ADNOC’s standing as a dependable worldwide natural gas supplier and hasten the growth of Al Ruwais Industrial City. Through ADNOC’s In-Country Value (ICV) program, the project will purchase highly specialized machinery and materials and return 55% of the EPC award value to the UAE’s economy, promoting industrial and economic growth and creating skilled private sector jobs for Emiratis.
During the meeting, Sheikh Khaled instructed to continue focusing on targeted growth locally and internationally to meet growing energy demand. He also praised ADNOC for its recent strategic acquisitions in major lower-carbon LNG projects in the US and Mozambique. She was also briefed on growth projects across ADNOC’s value chain.
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