UAE's ADNOC Launches Unified LNG Marketing and Trading Platform to Expand Global Gas Business

Post by : Saif

Dubai, UAE: Abu Dhabi National Oil Company (ADNOC) has launched a new liquefied natural gas (LNG) marketing and trading platform, bringing together the LNG marketing activities of ADNOC Gas, its international investment arm XRG, and ADNOC Trading into a single commercial unit. The move is aimed at strengthening ADNOC's position in the rapidly growing global LNG market.

The new platform will be based at the Abu Dhabi Global Market (ADGM) financial centre and is expected to streamline LNG marketing and trading operations across the ADNOC Group.

Platform Targets 47 Million Metric Tons of LNG by 2035

According to ADNOC, the combined platform is targeting 47 million metric tons per annum (mtpa) of marketable LNG by 2035. If achieved, the platform would rank among the world's largest LNG marketers.

The company said the integrated structure will help improve the marketing of LNG volumes from existing operations as well as future production, including supplies from the Ruwais LNG project.

Leadership and Commercial Structure Announced

ADNOC has appointed Rashid Al Mazrouei as Chief Marketing and Origination Officer for LNG. He will oversee the marketing of the combined LNG equity portfolios of ADNOC Gas and XRG.

Under the new structure, long-term LNG marketing activities will be managed through the unified platform. However, ADNOC Trading will continue to serve as the trading counterparty, and the company confirmed that there will be no changes to existing customer contracts.

ADNOC also said that current commercial agreements of ADNOC Gas will remain unchanged.

ADNOC Sees Growth in Global LNG Market

ADNOC Chief Executive Officer Sultan Al Jaber, who also heads XRG, said the new platform represents "a step-change in scale, flexibility and optionality" for the group's LNG business.

The company believes the unified platform will strengthen its ability to compete in international LNG markets by combining marketing expertise, trading capabilities and investment resources under one organisation.

Part of ADNOC's Long-Term Global Expansion Strategy

ADNOC Trading, established four years ago, currently operates offices in Abu Dhabi, Singapore and Geneva.

Meanwhile, XRG, which is valued at more than $150 billion, announced last year that it aims to become one of the top five global gas and LNG companies by 2035, with a production capacity target of 20–25 mtpa.

The launch of the new LNG platform is seen as another major step in ADNOC's long-term strategy to expand its presence in the global natural gas and LNG industry.

#trending #latest #ADNOC #UAE #LNG #NaturalGas #EnergyNews #OilAndGas #ADNOCGas #XRG #ADNOCTrading #BusinessNews #GlobalEnergy #EnergyMarket #MiddleEast #AbuDhabi #Reuters #GasIndustry