ADNOC Gas is to invest $13 billion in domestic and international opportunities in the next five years and aims to more than double its liquefied natural gas (LNG) production capacity by 2028.
The $65 billion top 20 oil and gas company included the commitments in its 2023 results, in which it recorded a net income of $4.7 billion.
Dr. Sultan Ahmed Al Jaber, Chairman of ADNOC Gas – the integrated gas processing unit of ADNOC – said the investment will increases its EBITDA by up to 40% by 2029.
He said last year it made substantial investments, awarding contracts worth $4.9 billion to expand its processing capacity, which will provide additional sales volumes of up to 20%.
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