Abu Dhabi National Oil Company (ADNOC) announced the formation of ADNOC Gas, its new world-scale gas processing, operations and marketing company, effective January 1.
Ahmed Mohamed Alebri has been appointed as CEO (Acting) of the new entity, while Peter Van Driel has been named Chief Financial Officer. Mohamed Al Hashemi has been appointed Chief Operating Officer.
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said: “The formation of ADNOC Gas represents another major milestone in unlocking the full value of the UAE’s vast natural gas resources and builds on ADNOC’s more than 40 years’ experience as a leading gas producer.
“Natural gas will be a critical fuel in the energy transition and ADNOC Gas, through its world-scale operations and significant growth and expansion plans, will be well-positioned to meet both local and international gas demand. In addition to enabling the growth of local industry and manufacturing, 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.
Existing Joint Venture (JV) partners to ADNOC LNG (Mitsui & Co, bp and TotalEnergies) and ADNOC Gas Processing (Shell, TotalEnergies and PTTEP) will continue in their respective JV partnerships with ADNOC Gas.
