ADNOC establishes a new gas processing, operations and marketing company
ADNOC, a provider of lower-carbon intensity energy, has announced the formation of ADNOC Gas, effective 1 January 2023, its new world-scale gas processing, operations and marketing company, according to the company's release. The flagship company combines the operations, maintenance and marketing of the ADNOC Gas Processing and ADNOC LNG businesses into one global and market-leading consolidated business.
As ADNOC grows its gas production and processing capacity, the combined scale and capabilities of ADNOC Gas will maximize 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.
Mr. Ahmed Mohamed Alebri has been appointed as Chief Executive Officer (Acting) of ADNOC Gas, Mr. Peter Van Driel as Chief Financial Officer, and Mr. Mohamed Al Hashemi as Chief Operating Officer. Ahmed Mohamed Alebri is the former CEO (Acting) of ADNOC Gas Processing and General Manager (Acting) of ADNOC Industrial Gases. With an ADNOC career spanning more than 18 years, he has held various senior management positions and has led the delivery of multi-billion dollar gas expansion programs.
Peter Van Driel is a 28-year veteran of Shell, where he served in various key roles in Accounting, Investor Relations, M&A and Finance and Mohamed Al Hashemi is the former SVP of Production Planning & Transmission at ADNOC Gas Processing, where he previously held several leadership posts covering the full spectrum of Site Operations, Maintenance and Supply with an emphasis on HSE & Asset Integrity.
The consolidated ADNOC Gas business is expected to unlock significant financial and operational opportunities. The new company will be more agile, better able to respond to changing market demands, and well-positioned to take advantage of strategic opportunities for future growth. This includes the delivery of critical capital growth projects that will increase the company’s gas processing capabilities and its intended growth in LNG.
As one the world’s leading gas companies ADNOC Gas will operate eight processing sites both onshore and offshore with a pipeline network of over 3,250km.
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) during the course of 2023, subject to applicable regulatory approvals. The company will make further announcement in relation to the intended IPO in due course.
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.
