Abu Dhabi National Oil Company (Adnoc) and Royal Dutch Shell have signed a preliminary agreement to explore offshore for gas in Abu Dhabi in a development that could unlock significant new fuel supplies for the Gulf region’s burgeoning industrial and power sectors.
If finalised, the deal would be Shell’s first in decades in the UAE’s upstream oil and gas industry. It could also signify an important shift in government energy policy towards a greater degree of collaboration with foreign partners.
Indeed, foreign partnership has in the past been relatively limited – though The Linde Group succeeded where others failed as it established a joint venture deal with partnership the Borealis/Adnoc joint venture Borouge.
An example of both foreign partnership in the Middle East and a strong foothold for Linde in this expanding region, the company nailed down the major strategic partnership in December 2007.
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