08:01 AM EDT, 07/10/2024 (MT Newswires) -- Shell (SHEL) subsidiary Shell Overseas Holdings said Wednesday it signed an agreement to invest in Abu Dhabi National Oil's Ruwais liquefied natural gas project through a 10% interest.

The Ruwais project in Dubai will consist of two 4.8 million metric-ton-per-year liquefaction trains for a total capacity of 9.6 million metric tons annually.

Through its Shell International Trading Middle East Limited subsidiary, the company also signed an agreement to offtake 1 million metric tons per year of liquefied natural gas generated by the project.

Deliveries are expected to begin in 2028.

Abu Dhabi National Oil will retain a majority 60% share in the Ruwais project while Shell (SHEL), BP (BP), TotalEnergies (TTE), and Mitsui will each hold 10%.

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