Page 4 - GLNG Week 03 2023

GLNG COMMENTARY GLNG

ADNOC creates gas

unit, plans to list

ADNOC has combined its gas processing and LNG divisions to form a new global gas leader

COMMENTARY ABU Dhabi National Oil Co. (ADNOC) has to be a reliable provider of LNG, LPG and asso-
merged its gas processing and LNG businesses ciated products.”
WHAT: into a consolidated gas division with a plan to ADNOC’s press release noted the appoint-
ADNOC Gas has a gas increase production to meet domestic demand. ments of Ahmed Mohamed Alebri as acting
processing capacity of The parent firm intends to sell a minority stake CEO, Mohamed Al Hashemi as chief operat-
10 billion cubic feet per in the new business, just as it has done with its ing officer and Peter van Driel as chief financial
day, making it one of drilling and distribution arms. officer. This cited the extensive experience of the
the world’s largest gas The launch of the company comes as Gulf former two execs with ADNOC Gas Processing,
processors. NOCs are increasingly turning to gas as a means while van Driel is a 28-year veteran of Shell.
of reducing the cost of powering their economies In reference to these appointments, Al Jaber
WHY: while raising the value of revenues they are able said: “Led by a seasoned and highly-qualified
Gas is core to ADNOC’s to generate from crude output. senior management team, with unrivalled expe-
efforts to increase rience in the sector, this new flagship and world-
profitability while Gas launch scale company will strengthen our position as a
decarbonising its The newly formed ADNOC Gas is one of the responsible and sustainable energy leader in an
operations. world’s largest gas processors with a capacity of evolving global energy landscape.”
10bn cubic feet (283mn cubic metres) per day, ADNOC expects the new company to
WHAT NEXT: eight processing facilities as well as a pipeline “unlock significant financial and operational
ADNOC intends to sell a network spanning more than 3,250 km. opportunities” and believes it will be “more
minority shareholding HE Dr. Sultan Ahmed Al Jaber, the UAE’s agile, better able to respond to changing market
in the new company via Minister of Industry and Advanced Technology demands, and well-positioned to take advantage
IPO on the local stock and ADNOC managing director and CEO, said: of strategic opportunities for future growth”.
exchange. “Natural gas will be a critical fuel in the energy The Emirati NOC is working to raise its oil
transition and ADNOC Gas, through its world- production capacity of 4.2mn barrels per day
scale operations and significant growth and or so to 5mn bpd by 2025, and up to 6mn bpd
expansion plans, will be well-positioned to meet by the end of the decade, the date by which it
both local and international gas demand.” also intends to become self-sufficient in gas
He added that “ADNOC Gas will play a crit- production.
ical role in delivering ADNOC’s broader LNG Increased oil output will be complemented
expansion plans, including in international mar- by the development of the giant offshore Ghasha
kets,” noting that the company would “continue concession, which contains the Dalma, Ghasha,

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