Abu Dhabi, UAE—Abu Dhabi National Oil Company (ADNOC) has announced the formation of ADNOC Gas, effective 1 January 2023, its new world-scale gas processing, operations and marketing company.
ADNOC said the company combines the operations, maintenance and marketing of the ADNOC Gas Processing and ADNOC LNG businesses into one global and market-leading consolidated business.
ADNOC Gas will operate eight processing sites both onshore and offshore with a pipeline network of over 3,250km.
Ahmed Mohamed Alebri has been appointed as Chief Executive Officer (Acting) of ADNOC Gas, Peter Van Driel as Chief Financial Officer, and Mohamed Al Hashemi as Chief Operating Officer.
As ADNOC grows its gas production and processing capacity, the combined scale and capabilities of ADNOC Gas will maximize value and create new opportunities for ADNOC, its partners and the UAE, the oil giant said in a statement.
It added that as a low-carbon fuel, natural gas will play a vital role in a responsible energy transition and its demand is expected to increase steadily over the coming decades with global gas demand driven by industrial and manufacturing growth and the replacement of more carbon intensive fuels, such as coal, in international markets.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO ADNOC, said, “ADNOC Gas will play a critical role in delivering ADNOC’s broader LNG expansion plans, including in international markets.”
As announced in November 2022, ADNOC intends to proceed with an initial public offering (IPO) of a minority stake in ADNOC Gas on the Abu Dhabi Securities Exchange (ADX) in 2023, subject to applicable regulatory approvals.