Adnoc Gas begins operations, stays on track for ADX listing

Adnoc Gas begins operations, stays on track for ADX listing

UAE - The new entity will be primarily focusing on world-scale gas processing, operations and marketing of its gas business and maximise value and create new opportunities for Adnoc, its partners and the UAE.

Abu Dhabi National Oil Company (Adnoc) has announced the formation of its new flagship company Adnoc Gas to consolidate its energy business in line with the directive of the board of directors.

The new company, which is effective from January 1, 2023, combines the operations, maintenance and marketing of the Adnoc Gas Processing and Adnoc LNG businesses into one global and market-leading consolidated business.

With the beginning of its operations, the new company remains on track for an initial public offering (IPO) to list its shares on the Abu Dhabi Securities Exchange (ADX) during the course of this year.

The new entity will be primarily focusing on world-scale gas processing, operations and marketing of its gas business and maximise value and create new opportunities for Adnoc, its partners and the UAE.

As a leading global player with capacity of 10 billion standard cubic feet of gas per day (scfd), Adnoc Gas will serve a wider range of domestic and international customers with an expanding portfolio of gas products.

Dr Sultan bin Ahmed