This is Middle-Earth : Shadow of Mordor developed by Monolith Productions (of No One Lives Forever and F.E.A.R. fame). Shadows is exactly what you'll get when you cross-breed Tolkien's literature, Assassin's Creed and Batman's Arkham series.
Players will be in the shoes of Talion, a ranger with wraith abilities. The story is set in between The Hobbit and the LOTR trilogy.
Funnily enough, aside from the magical powers of the main character (and the fantasy setting), Shadow resembles Ubisoft's Assassin's Creed series in more than one. Hell, if you skipped the title of the game and viewed the gameplay, this could actually pass as a new AC game.
It's not really the first time a different studio copied (or in professional terms; inspired by) another developer's gameplay system. I vividly remember 2007's Ghost Rider and the recent Castlevania: Lord of Shadows had a similar combat and exploration system as Sony's God of War series. Hell.. Talion, the game's protagonist, sort of resembles The Witcher's Geralt.
As observed in the gameplay footage of Shadows of Mordor, the exploration system is akin to the style of AC (parkour, eagle vision etc) while combat is comparable to Batman's Arkham series. Talion can also level up his skills as a Ranger or Wraith through two skill sets. The game will also be open-world, thus players are able to explore Tolkien's LOTR world.
The game makes use of an interactive system known as the Nemesis System, which the game will keep track of the player's interactions with characters they encounter. Characters will react differently depending on the player's actions towards them throughout the whole story. Very much similar (again) to the likes of Mass Effect and Telltale's The Walking Dead.
Aside from the noticeable "inspirations" of Shadow, I am interested in this and would give it a shot when its released. Its been a long time since there was a proper triple-A LOTR game, so fingers crossed that it delivers.