Abu Dhabi National Oil Company to list 4% stake of its Gas business on ADX

Abu Dhabi National Oil Company to list 4% stake of its Gas business on ADX

ADNOC has intended to float a 4 percent minority stake in ADNOC Gas, its world-class gas processing, operations and marketing company, on the Abu Dhabi Securities Exchange (ADX).

The offering is expected to open on 23rd February, subject to regulatory approvals and other relevant considerations.

ADNOC Gas, formed in January 2023 through the consolidation of ADNOC’s gas processing and LNG businesses, is a world-class, large-scale integrated business operating across the gas value chain.

A leading global player with access to a capacity of around 10 billion standard cubic feet of gas per day (bscfd), the Company serves a wide range of domestic and international customers with an expanding portfolio of products, supplying around 60 percent of the UAE’s gas needs and exporting natural gas and related products to a diverse customer base in over 20 countries.

Global demand for gas is expected to continue to grow as the world looks to further decarbonize its energy systems, and ADNOC Gas is expanding its capacity to meet increasing global demand, support UAE gas self-sufficiency and industrial expansion, and expand LNG capacity.

Mr. Khaled Al Zaabi, Group CFO of ADNOC said that “We are very pleased to announce our intention to float a minority stake in ADNOC Gas,