Adnoc focuses on gas for expansion drive
The Emirati giant is keen to reinforce its status as a net gas exporter while remaining cost-conscious even as it splashes its oil windfall
Adnoc remains committed to capital discipline despite sustained high oil prices, with recent decisions to relocate a planned LNG terminal and to re-tender contracts for an offshore development showing a desire to keep down costs while focusing its expansion plans on gas. In a press release in early May, the Emirati state-owned firm announced the new liquefaction terminal, which had been planned for eastern oil port of Fujairah, would instead be built at Ruwais, the existing gas processing and downstream hub in western Abu Dhabi. Days before, prospective bidders were informed of a third re-tender of the main contracts on the Hail/Ghasha offshore sour gas development project—the largest and co
Also in this section
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive