Mitsui to join with ADNOC and others in LNG project in UAE

4/23/2024

(Reuters) - Japan's Mitsui & Co plans to participate in a $7-B LNG project in the United Arab Emirates, teaming up with Abu Dhabi National Oil Company and others, the Nikkei reported on Tuesday.

ADNOC will participate with a stake of around 60% and Mitsui with 10% of the project, the Nikkei said, adding Mitsui's investment is estimated to be several tens of billions of yen.

Other oil majors Shell, BP and Total Energies are also expected to invest, the report said.

The companies aim to produce about 10 million metric tons of LNG per year, the report said.