Abu Dhabi’s state-run gas producer, Adnoc Gas Plc, plans to boost its exports of liquefied natural gas (LNG) and other fuel cargoes in the fourth quarter. The increase comes as more vessels navigate the Strait of Hormuz, according to the company’s finance chief.
The company’s main LNG export facility at Das Island operated at full capacity during the third quarter, said Chief Financial Officer Peter van Driel in an interview. This development suggests that higher volumes of LNG are entering global markets, where prices have spiked due to supply disruptions in the Middle East.