ADNOC has launched a new gas processing, operations, and marketing company, ADNOC Gas, to serve a wider range of domestic and international customers.
Effective from 1 January 2023, the new company consolidates the operations, maintenance, and marketing of the ADNOC Gas Processing and ADNOC liquefied natural gas (LNG) businesses.
ADNOC Gas will have a capacity of approximately ten billion standard cubic feet of gas per day, making it one of the world’s largest gas processing entities.
In a press statement, ADNOC said: “ADNOC grows its gas production and processing capacity. The combined scale and capabilities of ADNOC Gas will maximise value and create new opportunities for ADNOC, its partners, and the UAE.”
The new company will operate eight onshore and offshore processing sites. It will also have a pipeline network of over 3,250km.
Through ADNOC Gas, the group hopes to better respond to dynamic market demands and unlock significant operational and financial opportunities.
UAE Minister of Industry and Advanced Technology and ADNOC managing director and group CEO Dr Sultan Ahmed Al Jaber said: “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.
“Natural gas will be a critical fuel in the energy transition and ADNOC Gas, through its world-scale operations and significant growth and expansion plans, will be well-positioned to meet both local and international gas demand. In addition to enabling the growth of local industry and manufacturing, ADNOC Gas will play a critical role in delivering ADNOC’s broader LNG expansion plans, including in international markets.”
ADNOC plans to offer a minority stake in the new company via an initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) this year, subject to the receipt of regulatory approvals.