Adnoc, Proman in Partnership to build methanol plant in Ruwais
Abu Dhabi National Oil Company (“ADNOC”) today signed an agreement with Proman, one of the world’s leading producers of methanol, to develop the United Arab Emirates’ (UAE) first world-scale methanol production facility at the TA’ZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi. Under the terms of the agreement, Abu Dhabi Chemicals Derivatives Company RSC Ltd. (“TA’ZIZ”) and Proman will construct a natural gas to methanol facility with an anticipated annual capacity of up to 1.8 million tons per annum. The facility will meet growing domestic and international demand for this clean and versatile chemical commodity which is gaining momentum as a lower-emission fuel alongside existing uses spanning industrial products. The project is subject to relevant regulatory approvals.
TA’ZIZ is a joint venture between Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company. The proposed partnership will capitalize upon ADNOC’s attractive value proposition for downstream petrochemicals, ADQ’s diversified portfolio and Proman’s extensive construction and operational expertise as the world’s second largest methanol producer.
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