ADNOC consolidates gas operations under one roof
ADNOC Gas, which was officially formed on January 1, 2023, will also head up the company’s gas marketing operations.
The new company has the capacity to produce around 283 mcm (10 bcf) of gas per day from eight processing sites and has a pipeline network of more than 3,250 kilometres.
The move is part of ADNOC’s aim to successfully meet domestic energy demand and expand its LNG production and export capacity.
The NOC aims to float a minority stake in ADNOC Gas on the Abu Dhabi Securities Exchange in 2023.
Under the decision, joint ventures partnerships with subsidiaries ADNOC LNG and ADNOC Gas Processing will remain unchanged.
Earlier in January, ADNOC allocated USD 15 billion towards decarbonisation projects by 2030.
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