{"id":77724,"date":"2024-04-02T00:00:00","date_gmt":"2024-04-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/02\/adnoc-gas-earmarks-usd-13-bn-for-expansion-efforts\/"},"modified":"2024-04-02T00:00:00","modified_gmt":"2024-04-02T00:00:00","slug":"adnoc-gas-earmarks-usd-13-bn-for-expansion-efforts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/02\/adnoc-gas-earmarks-usd-13-bn-for-expansion-efforts\/","title":{"rendered":"Adnoc Gas earmarks USD 13 bn for expansion efforts"},"content":{"rendered":"

Adnoc Gas plans to invest USD 13 bn over the next five years in both <\/strong>domestic and international markets<\/strong>, the firm said in a press release (pdf)<\/a>. The investments, including contracts worth USD 4.9 bn awarded in 2023, will help the firm \u201cexpand [its] processing capacity and reach more customers. These projects will provide additional sales volumes of up to 20%,\u201d Chairman Sultan Al Jaber said. <\/p>\n

The Adnoc subsidiary plans to double its liquefied natural gas (LNG) production capacity by 2028<\/strong>, as it looks to increase LNG export volumes to serve the growing global market, with the International Energy Agency expecting 2.5% y-o-y growth<\/a> in global gas demand in 2024 as a transition fuel. <\/p>\n

The game plan? The Ruwais plant acquisition: <\/strong>Adnoc Gas plans to acquire the Ruwais LNG plant to help double its production capacity, and cater its product offering to the increased demand for lower-carbon solutions globally. The company also plans to grow its global presence by \u201cacquiring new positions in the gas value chain, targeting opportunities in Europe, India, China and South-East Asia,\u201d Al Jaber said.<\/p>\n

REMEMBER-<\/strong> Parent company Adnoc is planning to use its own funds to expand production<\/a> at the Ruwais LNG project, with exports from the Ruwais Site to commence in 2028. The project is expected to more than double the company\u2019s LNG production capacity to 15 mn metric tons per year from 6 mn. Adnoc plans to make a final investment decision<\/a> on the plant over the next three months.<\/p>\n

The gas giant is also doubling down on AI and decarbonization: <\/strong>Adnoc Gas aims to boost its operational efficiency through strategies such as decarbonization, digital transformation, and AI-powered technologies \u201cfor improved cost efficiencies and reliability,\u201d forecasting to save up to USD 400 mn per year by 2029.<\/p>\n

IN OTHER NEWS- <\/strong>Adnoc\u2019s strategic move to prioritize Murban oil over Upper Zakum crude has <\/strong>caused a substantial drop in Upper Zakum exports<\/strong>, Reuters<\/a> reports. The move is in line with Adnoc's investments in refinery upgrades, particularly at its Ruwais facility, which allow it to process heavier grades more efficiently. \"They invested a lot of money over at least 3-4 years upgrading Ruwais to run heavier grades so it makes a lot of sense to run Upper Zakum and sell Murban,\" said director of Surrey Clean Energy Adi Imsirovic. \"Barrel-for-barrel, Murban brings more revenue for equal compliance.\" <\/p>\n","protected":false},"excerpt":{"rendered":"

Adnoc Gas plans to double its production capacity by 2028<\/p>\n","protected":false},"author":1,"featured_media":77725,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[44,227,32,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-investment-watch","tag-lng","tag-trade","tag-uae","wpautop","entry"],"acf":{"mongo_id":"34463168-fcf7-4fb4-aae7-faff2303cc13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/163.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc Gas earmarks USD 13 bn for expansion efforts","related_issue":[77719],"teaser":"Adnoc Gas plans to double its production capacity by 2028","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.00007fdf-81f2-4ed3-89ca-580a66bfa0a6.mp3"},"yoast_head":"\nAdnoc Gas earmarks USD 13 bn for expansion efforts - 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