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Abu Dhabi National Oil Company (ADNOC) has announced the establishment of ADNOC Gas, its new gas processing, operating and marketing company effective 1 January 2023.
The company combines the operations, maintenance and marketing of ADNOC Gas Processing and ADNOC LNG businesses into one integrated business.
ADNOC Gas’ combined scale and capabilities will maximize value and create new opportunities for ADNOC, its partners and the Emirates National News Agency Wan reports.
As a global leader in the production of 10 billion standard cubic feet per day of natural gas, ADNOC Gas will serve a broader range of domestic and international customers through its expanding portfolio of natural gas products.
At the same time, the new business is expected to unlock significant financial and operational opportunities. It will be more agile, better able to respond to changing market needs and capable of capitalizing on strategic opportunities for future growth. This includes the delivery of key capital growth projects that will enhance the Company’s natural gas processing capacity and projected growth in LNG.
ADNOC Gas will operate eight processing sites onshore and offshore with a pipeline network of more than 3,250km.
Ahmed Mohamed Alebri has been appointed acting CEO of ADNOC Gas, Peter Van Driel has been appointed chief financial officer and Mohamed Al Hashemi has been appointed chief operating officer.
ADNOC’s new world-class natural gas processing, operating and marketing company opens.#WamNews https://t.co/xAr8omddAn pic.twitter.com/nBBAMuIIYw
— WAM English (@WAMNEWS_ENG) January 10, 2023
“The launch of ADNOC Gas represents another major milestone in unlocking the full value of the UAE’s vast gas resources and builds on ADNOC’s more than 40 years of experience as a leading gas producer,” said Dr. Sultan bin Ahmed Al Jaber, Minister of Industry. Abu Dhabi Advanced Technology and Managing Director and Group Chief Executive Officer of National Oil Corporation (ADNOC).
“Gas will be a key fuel for the energy transition, and ADNOC Gas, through its world-scale operations and significant growth and expansion plans, will be well positioned to meet local and international gas demand. In addition to promoting the growth of local industry and manufacturing, ADNOC Gas will also play a key role in the implementation of ADNOC’s wider LNG expansion plans, including international markets.
“ADNOC Gas will continue to be a reliable supplier of LNG, LPG and related products to our customers. Led by an experienced and highly qualified senior management team with unparalleled experience in the sector, this A new world-class flagship company will strengthen our position as a leader in responsible and sustainable energy in the evolving global energy landscape.”
The existing joint venture (JV) partners of ADNOC LNG (Mitsui & Co, bp and TotalEnergies) and ADNOC Gas Processing (Shell, TotalEnergies and PTTEP) will continue to enter into their respective joint venture partnerships with ADNOC Gas.
read: Abu Dhabi’s ADNOC Drilling buys two offshore jack-ups for $200m
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