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ABU DHABI, 10th January, 2023 (WAM) — The Abu Dhabi National Oil Company, ADNOC, has announced the establishment of ADNOC Gas, its new world-class gas processing, operating and marketing company, effective 1 January 2023.
The flagship company combines the operations, maintenance and marketing of ADNOC Gas Processing and ADNOC LNG businesses into one global market-leading integrated business.
The combined scale and capabilities of ADNOC Gas will maximize value and create new opportunities for ADNOC, its partners and the UAE as ADNOC expands its gas production and processing capabilities.
A global leader in the production of approximately 10 billion standard cubic feet per day (scfd) of natural gas, ADNOC Gas will serve a broader range of domestic and international customers through its expanding portfolio of natural gas products.
Natural gas is a low-carbon fuel that will play an important role in the responsible energy transition. Natural gas demand is expected to grow steadily over the next few decades as global gas demand is driven by growth in industry and manufacturing, and the substitution of carbon-intensive fuels such as coal in international markets. The UAE and ADNOC are well-positioned to capitalize on this opportunity given their substantial gas reserves, strong tradition of successfully developing gas projects and proven track record as reliable energy suppliers.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group Chief Executive Officer of Abu Dhabi National Oil Company (ADNOC), said: “The UAE has abundant natural gas resources, built on ADNOC’s more than 40 years of experience as a leading gas producer. experience. Natural 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 play a key role in the implementation of ADNOC’s wider LNG expansion plans, including to 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.”
Ahmed Mohamed Alebri was appointed Chief Executive Officer (Acting) of ADNOC Gas, Peter Van Driel was appointed Chief Financial Officer and Mohamed Al Hashemi was appointed Chief Operating Officer.
Alebri is former Chief Executive Officer (Acting) of ADNOC Gas Processing and General Manager (Acting) of ADNOC Industrial Gases. During his more than 18-year career at ADNOC, he held various senior management positions and led the delivery of multi-billion dollar natural gas expansion programs.
Peter Van Driel spent 28 years at Shell in various key roles in accounting, investor relations, mergers and acquisitions and finance, and Mohamed Al Hashemi is the former Senior Vice President of Production Planning and Transmission for ADNOC Gas Processing, and previously Has held various leadership positions with the company covering all aspects of site operations, maintenance and supply with a focus on HSE and asset integrity.
The combined ADNOC natural gas business is expected to unlock significant financial and operational opportunities. The new company will be more agile, better able to respond to changing market demands and well-positioned to capitalize 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.
As one of the world’s leading natural gas companies, ADNOC Gas will operate eight processing sites onshore and offshore, with a pipeline network of more than 3,250 kilometers.
As announced in November 2022, ADNOC intends to conduct an initial public offering (IPO) of a minority stake in ADNOC Gas on the Abu Dhabi Securities Exchange (ADX) during 2023, subject to applicable regulatory approvals.
The company will make further announcements regarding the proposed initial public offering in due course.
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.
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