GOX’s Post

European #energy giants invest in a #AbuDhabi liquefied natural-gas project set to double UAE's LNG capacity. The super-chilled #gas is widely seen as a transition fuel as the world pivots from traditional oil and gas. ADNOC Group--state-owned by UAE and operator of the Ruwais facility--said yesterday that Shell, TotalEnergies and bp each have bought 10% stakes in the project. Read via The Wall Street Journal or in today's paper.

BP's $1.5 billion investment in Egypt's gas projects over the next 3-4 years is a strong signal for the region's #energysector! The joint venture with #ADNOC also suggests that major players are seeing value in collaboration and resource pooling. When evaluating oil & #gas investment opportunities, it can be worth considering regions and projects that attract significant investments from industry giants. While we can't base all of our investment decisions on what others are doing, their moves could at least point us toward areas with strong growth potential. https://loom.ly/A2YlUZc

UAE Update! ADNOC Group is reportedly considering a multi-billion-dollar sale of 3-5% of its 90% stake in ADNOC Gas. ADNOC Gas was listed on the ADX last year and has since delivered over 50% total shareholder returns. ADNOC Gas supplies ~60% of the UAE’s sales gas needs and expects to acquire ADNOC’s 60% stake in the country’s Ruwais LNG plant, at cost, when it begins production in 2028.       In July, Ruwais LNG reached FID with Shell, TotalEnergies, bp and Mitsui & Co., Ltd. each agreeing to take 10% project stakes. Meanwhile, this month ADNOC Gas signed a 10-year SPA with India’s GAIL (India) Limited to supply up to 0.52 MMtpa of LNG, from 2026, from the UAE’s Das Island liquefaction facility which started up in 1977.   

#QatarEnergy has expanded its #oil and #gas exploration activities in #Egypt with a new acquisition that supports Cairo's plans to increase hydrocarbon reserves to meet the growing fuel demand. According to a statement reviewed by #Energy Platform (based in #Washington), Qatar’s energy giant signed an agreement with #Chevron, acquiring a 23% stake in the North Dabaa Offshore (H4) concession area in the #Mediterranean Sea, off the Egyptian coast. Under the agreement, Chevron, the operator, will retain a 40% stake, while Woodside will hold a 27% share, and Egypt’s state-owned Tharwa Petroleum will have a 10% stake. This new deal marks QatarEnergy's second oil and gas #exploration project in Egypt this year, raising Qatar's participation in projects off Cairo’s coast to six, including four in the Mediterranean. #EnergyExpansion #QatarEnergy #OilAndGas #Egypt

aramco continues to ramp up capital expenditure, with a focus on upstream liquids and gas, downstream liquids to chemicals, and new energies such as renewables, lower-carbon fuels, and blue ammonia and hydrogen. In Q1 2024 it made strides in expanding its gas business and growing its globally-integrated downstream value chain, progressing major gas initiatives such as the Jafurah and Fadhili gas plants and acquiring a stake in LNG company MidOcean, as well as announcing that it will more than double venture capital spending. https://zurl.co/CtBe #aramco #jafurah #fadhili

#Adnoc Gas to #invest $13bn until 2029 to boost #LNG production capacity company aims to more than double its LNG output capacity by 2028 through the strategic acquisition of the new Ruwais LNG plant from parent company Adnoc and potentially target assets in #Europe #India #China and #SouthEast #Asia Adnoc Gas, which approved a dividend of $3.25 billion for the full year 2023, intends to “progressively” increase the dividend it pays shareholders by 5 per cent year-on-year over the next four years. LNG is produced when #naturalgas is cooled, which shrinks the volume of the gas, making it easier and safer to store and transport over long distances State-run energy companies in the Middle East are betting big on the commodity, seen as a #lowcarbon alternative to #crudeoil and #coal Emerging economies in Asia are aiming to increase the share of natural gas to reduce dependency on highly polluting coal amid an expected surge in #power demand. Meanwhile, Europe is seeking to replace Russian gas supplies with LNG shipments from the #US and the #MiddleEast In January, Adnoc Gas signed a 10-year agreement to supply 500,000 tonnes per annum of LNG to #Gail India. #energy #oilandgas #geopolitics #energyprices

MedcoEnergi expands presence in Oman’s upstream energy sector MUSCAT: Indonesian oil and gas firm PT Medco Energi Internasional Tbk (MedcoEnergi) has described stake acquisitions in two key hydrocarbon blocks in the Sultanate of Oman as a “significant milestone” for the state-owned company. MedcoEnergy saw its presence in Oman’s upstream sector ramp up dramatically late last year when it successfully acquired a 20 per cent stake each in Blocks 48 and 60, owned and operated by OQ Exploration and Production (OQ EP), the upstream arm of Omani energy group OQ. Read more: https://lnkd.in/da9AiJDa PT Medco Energi Internasional Tbk Ministry of Energy and Minerals @IndonesiaMuscat OQ #Energy #Onshore #Exploration #Oil #Gas #Oman #Indonesia #OmanBiz

Shell and Saudi aramco are in the final stages of negotiations to acquire Pavilion Energy's assets, valued at over $2 billion. This potential deal underscores the growing importance of liquefied natural gas (LNG) in the global energy market. aramco aims to bolster its position as an LNG player, aligning with its strategy to expand gas exploration. For Shell, whose profits heavily rely on LNG trading, this acquisition could strengthen its leading role in the industry. The outcome of these negotiations could reshape the LNG market and influence future energy investment strategies.

#Nigeriaisopenforbusiness🚀 💰 ADNOC Group to Transfer $5 Billion Stake in Major LNG Project to Subsidiary!💰 Abu Dhabi National Oil Company (ADNOC) plans to transfer its 60% stake in the low-carbon Ruwais liquefied natural gas (LNG) project to its affiliate, ADNOC Gas, in a deal valued at approximately $5 billion. The transaction is set to occur in the second half of 2028, doubling ADNOC Gas’ LNG processing capacity to 15.6 million tonnes per annum (mtpa). 🚢📈 💼🔥 Dr. Ahmed Mohamed Alebri, CEO of ADNOC Gas, said: “It has always been our intention to acquire ADNOC’s 60% stake in Ruwais LNG. This investment is a central component of our ambitious international growth plans and will strengthen ADNOC Gas’ position as a powerhouse in the global LNG market.” 💪🔑 . . . This may be the best time to Unlock Nigeria's Oil & Gas Potential with our Proven Expertise!🚀 We had the opportunity to review the National Gas Policy for the Federal Ministry of Petroleum Resources in Nigeria, receiving a commendation letter from the Ministry of Petroleum Resources for our contributions. During this review, we played a key role in developing the framework for domestic LNG usage in Nigeria! 🔑 Why should foreign investors act now? Largest market in Africa: With a population of over 200 million people.💰 With Nigeria’s energy market evolving rapidly, now is the time to seize this golden opportunity. The window to tap into the country's massive oil and gas potential won't be open forever. Don't miss out—invest now before the competition heats up! 🚀🔥 Strategic oil and gas projects accelerating growth: $20 Billion Dangote Refinery, $10 Billion NLNG Train 7 project, $2.5 billion AKK Gas pipeline project. 💰 Tap into unparalleled success with Olufola Wusu, a recognized market entry authority in Nigeria and with oil and gas experience in six other African nations. Specializing in empowering oil and gas firms, my team at Olufola Wusu strategically navigates complex regulations spotting value and helping to avoid risk throughout your market entry voyage. 💰 Our achievements include helping to shape the framework for domestic use of LNG in Nigeria's National Gas Policy. Expert Leadership: Recognized as a top market entry specialist in Nigeria, success in six African countries; Strategic Guidance: Navigate policies, regulations and local nuances seamlessly. 🌐 Opportunity Awaits: Collaborate with Olufola Wusu for streamlined market entry into Nigeria, the largest LNG producer and Africa's prime market with over 200 million people. Our goal is a clear plan for success. #marketentry #Nigeria #Lagos #lawyers #Nigeriaisopenforbusiness #RegulatoryImpact #oilandgas #LNG #Gas #NigeriaInvestment #GasInfrastructure #InvestmentOpportunities #OilandGas