Adnoc Gas Awards $3.6 Billion Contract

11 August 2023

Adnoc Gas Awards $3.6 Billion Contract

Adnoc Gas Awards $3.6 Billion Contract to Expand Gas Processing Infrastructure

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Adnoc Gas, known for having one of the world’s largest gas reserves, has recently awarded a significant $3.6 billion contract to a joint venture between the National Petroleum Construction Company and Tecnicas Reunidas. The purpose of this contract is to expand the gas processing infrastructure in the UAE.

This strategic move involves the commissioning of new gas processing facilities, aiming to optimize the supply to the Ruwais Industrial Complex. The project focuses on the Maximising Ethane Recovery and Monetisation, which aims to increase ethane extraction by 35% – 40% from the existing onshore facilities in the Habshan complex. The plan includes constructing new gas processing facilities and establishing a dedicated 120-kilometer natural gas liquids pipeline to deliver feedstock to Ruwais.

Notably, over 70% of the contract’s value will contribute to the UAE’s economy through Adnoc’s In-Country Value program.

“We’re excited about this capital project as it reinforces Adnoc Gas’ commitment to meeting our customers’ energy demands responsibly, both now and in the future,” stated Ahmed Alebri, Adnoc Gas Chief Executive.

Adnoc Gas and UAE’s Energy Landscape

Adnoc Gas plays a pivotal role in meeting the UAE’s natural gas needs, supplying over 60% of the country’s requirements. This valuable resource is a critical component in various industrial value chains, offering lower carbon emissions compared to other fossil fuels.

Earlier this year, Adnoc successfully raised around $2.5 billion by selling a 5% stake in Adnoc Gas. The company’s initial public offering marked a significant milestone, attracting over $124 billion in investor orders, making it the largest listing globally at that time.

Middle East’s Growing Natural Gas Sector

The Middle East is poised to invest up to $120 billion to enhance natural gas production by over 19% by 2030, as projected by energy consultancy Wood Mackenzie. The region’s natural gas output is set to reach 86 billion standard cubic feet per day by the end of the decade, a notable increase from the current 72 bcfd.

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11 August 2023

Adnoc Gas Awards $3.6 Billion Contract

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