Japan’s Mitsui & Co said on Tuesday nothing has been decided on a liquefied natural gas (LNG) project in the United Arab Emirates, after the Nikkei reported it was teaming up with Abu Dhabi National Oil Company (ADNOC) on it.
The Nikkei reported ADNOC would have a stake of around 60% and Mitsui 10% of the $7 billion LNG project at Ruwais, 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.
