ADNOC Gas Delves into $8 Billion Investment for Rich Gas Development

ADNOC Gas, the gas division of Emirati energy major ADNOC, announced it will allocate over $8 billion to its Rich Gas Development project. The goal is a 60% increase in earnings before interest, tax, depreciation, and amortization by 2030.

The project includes several gas production facilities, including the Habshah gas project, described as the UAE's largest gas processing facility, and the Ruwais LNG project, also located in the UAE. The $8 billion investment will be divided between these two facilities: $3.9 billion for a new gas processing train at Habshah and $4.3 billion for a new natural gas liquids fractionation unit at Ruwais LNG.

The Ruwais LNG project is expected to become one of the largest liquefied natural gas facilities in the Middle East, with two 4.8-million-ton-per-year liquefaction trains using artificial intelligence and advanced technologies to improve safety, efficiency, and emissions performance.

ADNOC Gas has been expanding its presence in natural gas amid strong global demand projections, despite current supply disruptions in the Persian Gulf. The company's chief executive, Fatema Al Nuaimi, described the final investment decision as a defining moment for ADNOC Gas.