Fatema Al Nuaimi, CEO of Adnoc Gas, emphasized the long-term growth of liquefied natural gas (LNG) demand during the Adipec conference. She highlighted that global LNG demand is expected to rise by 65% by 2050, reaching nearly 700 million tonnes annually, according to Shell's latest outlook. The development of AI infrastructure is a key driver, with approximately 9.5 million tonnes of LNG required for SpaceX alone.
Al Nuaimi also addressed the recent disruptions in the Strait of Hormuz, which have shut in about one-fifth of the world's monthly LNG supply since the conflict began in February. Despite these challenges, she remains optimistic about the future of gas demand, particularly as Abu Dhabi invests heavily in AI infrastructure, including the 1-gigawatt Stargate UAE project.
Adnoc Gas recently signed a five-year agreement to supply up to 1.6 million tonnes of LNG to TotalEnergies, expanding its global market share. Al Nuaimi called for more flexible and cooperative approaches to managing gas contracts, noting that rigid terms often fail to adapt to changing market conditions.
The company also announced the launch of a new global LNG trading platform, combining the marketing activities of Adnoc Gas and investment arm XRG with the commercial capabilities of Adnoc Trading. Adnoc Gas currently supplies about 60% of the UAE’s sales gas needs and serves customers in over 20 countries.