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ADNOC Converts Heads of Agreement into Binding Deal with EnBW
Abu Dhabi National Oil Company (ADNOC) has strengthened its commitment to global energy markets with a significant milestone. On December 16, 2024, ADNOC announced the signing of a 15-year Sales and Purchase Agreement (SPA) with EnBW Energie Baden-Württemberg AG (EnBW), one of Germany’s largest energy infrastructure operators. This SPA formalizes a previous Heads of Agreement, securing 0.6 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from the Ruwais LNG project.
Commitment to Sustainable Energy and Strategic Partnerships
The Ruwais LNG project, currently under development in Al Ruwais Industrial City, Abu Dhabi, will commence commercial operations in 2028. Over 8 MTPA of its total 9.6 MTPA production capacity has already been committed to international customers through long-term agreements. This agreement with EnBW marks ADNOC’s second SPA with a German company, following a 15-year, 1 MTPA agreement signed with SEFE Marketing and Trading Singapore Pte Ltd. in November 2024.
Fatema Al Nuaimi, ADNOC Executive Vice President, Downstream Business Management, expressed her enthusiasm for the partnership: “We are very pleased to partner with EnBW, one of the largest energy supply companies in Germany. By supplying lower-carbon LNG to EnBW, we are enhancing our partner’s energy security and contributing to decarbonization efforts, reaffirming ADNOC’s position as a trusted partner in the evolving energy landscape.”
Advancing UAE-Germany Energy Collaboration
This agreement builds on the UAE-Germany Energy Security and Industry Accelerator (ESIA) agreement, signed in 2022, which focuses on cooperation in energy security, decarbonization, and lower-carbon fuels. It also aligns with the Joint Declaration of Intent for Sustainable Energy Cooperation between the UAE’s Ministry of Industry and Advanced Technology and the German state of Baden-Württemberg signed in February 2024.
Peter Heydecker, EnBW Board Member for Sustainable Generation Infrastructure, emphasized the importance of this collaboration: “Finalizing this contract is a significant step in furthering our relationship and expanding our LNG portfolio. We look forward to a mutually beneficial long-term relationship and joint business success with ADNOC.”
Ruwais LNG Project: A Key Asset for ADNOC Gas
The Ruwais LNG project, valued at approximately $5 billion, features two 4.8 MTPA liquefaction trains with a combined capacity of 9.6 MTPA. ADNOC Gas announced in November 2024 that it plans to acquire ADNOC’s 60% stake in the project at cost by the second half of 2028. Upon completion, the project will more than double ADNOC Gas’ existing operated LNG production capacity, boosting it to around 15 MTPA.
Conclusion
This 15-year SPA with EnBW exemplifies ADNOC’s dedication to fostering long-term energy partnerships and advancing sustainable energy solutions. By securing agreements with key international partners, ADNOC is solidifying its role as a reliable supplier of lower-carbon energy to global markets. The Ruwais LNG project continues to be a cornerstone of ADNOC’s strategy, supporting energy security and decarbonization goals worldwide.
