Abu Dhabi Nationwide Oil Firm (ADNOC) has introduced the formation of ADNOC Gasoline, efficient 1st January 2023, its new world-scale gasoline processing, operations and advertising firm.
The flagship firm combines the operations, upkeep and advertising of the ADNOC Gasoline Processing and ADNOC LNG companies into one world and market-leading consolidated enterprise.
As ADNOC grows its gasoline manufacturing and processing capability, the mixed scale and capabilities of ADNOC Gasoline will maximise worth and create new alternatives for ADNOC, its companions and the UAE.
As a number one world participant with capability of ~10 billion normal cubic ft of gasoline per day (scfd), ADNOC Gasoline will serve a wider vary of home and worldwide clients with an increasing portfolio of gasoline merchandise.
Pure gasoline is a lower-carbon gasoline and can play an important function in a accountable vitality transition. Demand for pure gasoline is predicted to extend steadily over the approaching a long time with world gasoline demand pushed by industrial and manufacturing progress and the substitute of extra carbon intensive fuels, reminiscent of coal, in worldwide markets. The UAE and ADNOC are well-placed to benefit from this chance, given its important gasoline reserves, a powerful heritage of efficiently creating gasoline initiatives and a confirmed track-record as a dependable vitality provider.
Dr. Sultan bin Ahmed Al Jaber, Minister of Business and Superior Expertise and Managing Director and Group CEO of the Abu Dhabi Nationwide Oil Firm (ADNOC), mentioned, “The formation of ADNOC Gasoline represents one other main milestone in unlocking the complete worth of the UAE’s huge pure gasoline assets and builds on ADNOC’s greater than 40 years’ expertise as a number one gasoline producer. Pure gasoline will probably be a important gasoline within the vitality transition and ADNOC Gasoline, by way of its world-scale operations and important progress and growth plans, will probably be well-positioned to satisfy each native and worldwide gasoline demand. Along with enabling the expansion of native business and manufacturing, ADNOC Gasoline will play a important function in delivering ADNOC’s broader LNG growth plans, together with in worldwide markets.
“For our clients, ADNOC Gasoline will proceed to be a dependable supplier of LNG, LPG and related merchandise. Led by a seasoned and highly-qualified senior administration staff, with unrivalled expertise within the sector, this new flagship and world-scale firm will strengthen our place as a accountable and sustainable vitality chief in an evolving world vitality panorama.”
Ahmed Mohamed Alebri has been appointed as Chief Government Officer (Appearing) of ADNOC Gasoline, Peter Van Driel as Chief Monetary Officer, and Mohamed Al Hashemi as Chief Working Officer.
Alebri is the previous CEO (Appearing) of ADNOC Gasoline Processing and Normal Supervisor (Appearing) of ADNOC Industrial Gases. With an ADNOC profession spanning greater than 18 years, he has held numerous senior administration positions and has led the supply of multi-billion greenback gasoline growth packages.
Peter Van Driel is a 28-year veteran of Shell, the place he served in numerous key roles in Accounting, Investor Relations, M&A and Finance and Mohamed Al Hashemi is the previous SVP of Manufacturing Planning & Transmission at ADNOC Gasoline Processing, the place he beforehand held a number of management posts overlaying the complete spectrum of Website Operations, Upkeep and Provide with an emphasis on HSE & Asset Integrity.
The consolidated ADNOC Gasoline enterprise is predicted to unlock important monetary and operational alternatives. The brand new firm will probably be extra agile, higher in a position to reply to altering market calls for, and well-positioned to benefit from strategic alternatives for future progress. This consists of the supply of important capital progress initiatives that may enhance the corporate’s gasoline processing capabilities and its meant progress in LNG.
As one the world’s main gasoline corporations ADNOC Gasoline will function eight processing websites each onshore and offshore with a pipeline community of over 3,250km.
As introduced in November 2022, ADNOC intends to proceed with an preliminary public providing (IPO) of a minority stake in ADNOC Gasoline on the Abu Dhabi Securities Alternate (ADX) in the course of the course of 2023, topic to relevant regulatory approvals.
The corporate will make additional announcement in relation to the meant IPO in the end.
Present Joint Enterprise (JV) companions to ADNOC LNG (Mitsui & Co, bp and TotalEnergies) and ADNOC Gasoline Processing (Shell, TotalEnergies and PTTEP) will proceed of their respective JV partnerships with ADNOC Gasoline.
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