Etihad Energy Holding has reached a significant commercial milestone by finalizing a decade-long offtake agreement with the Government of Fujairah. Effective as of July 6, 2026, this deal secures a long-term buyer for the gasoline and refined petroleum products expected to flow from the company’s upcoming refinery project. By processing naphtha into high-quality Euro 5 specification fuel, the refinery aims to satisfy the growing regional demand for cleaner energy while leveraging the company's existing logistics and storage infrastructure in the area.

Currently, the project is in the engineering and design phase, supported by partners like Honeywell UOP and PEG, with a projected investment cost reaching up to $350 million. Once operational, the refinery is anticipated to generate at least $1 billion in long-term shareholder value. Saif Al Hazaimeh, Group CEO of Etihad Energy, emphasized that this partnership not only aligns with the UAE’s broader strategy to bolster downstream industries and job creation but also cements Fujairah's reputation as a vital global gateway for energy trade.