ADNOC’s new gas subsidiary ADNOC Gas, has begun operations effective Jan. 1, 2023, and is aimed at serving a wider range of domestic and international customers with an expanding portfolio of gas products, the company announced yesterday.
ADNOC Gas, which consolidates ADNOC’s gas processing and LNG operations, is one of the world’s largest gas processing entities, with capacity of about 10 billion standard cubic feet of gas per day. ADNOC Gas is expected to operate eight processing sites both onshore and offshore with a pipeline network of over 3,250 kms.
“The formation of ADNOC Gas represents another major milestone in unlocking the full value of the UAE’s vast natural gas resources and builds on ADNOC’s more than 40 years’ experience as a leading gas producer.”
HE Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO
With demand for natural gas expected to increase steadily over the coming decades, ADNOC says that it’s “well-placed” to capitalise on this opportunity, given its “significant gas reserves, a strong heritage of successfully developing gas projects and a proven track-record as a reliable energy supplier.”
“For our customers, ADNOC Gas will continue to be a reliable provider of LNG, LPG and associated products,” noted HE Dr Sultan Ahmed Al Jaber, ADNOC’s managing director and group CEO.
ADNOC also intends to proceed with an initial public offering (IPO) of a minority stake in ADNOC Gas on the Abu Dhabi Securities Exchange (ADX) this year, subject to applicable regulatory approvals. The company will make further announcement in relation to the intended IPO in due course.
