Adnoc, the Abu Dhabi-based global energy major, has launched a liquefied natural gas (LNG) marketing and trading platform in Abu Dhabi’s ADGM to streamline exports of its expanding LNG portfolio globally.
The move combines marketing activities of Adnoc Gas and Adnoc's international investment arm XRG with the trading functions of Adnoc Trading into an “integrated commercial platform”, Adnoc said in a statement on Monday.
The new ADGM entity will “enhance flexibility and shipping optionality” and supports Adnoc Gas’ expanding LNG portfolio, including Ruwais LNG, and XRG’s international gas and infrastructure growth.
Targeting 47 million tonnes per annum (mtpa) of combined marketable LNG by 2035, the platform will rank among the leading global LNG players, the company said.
It will scale up Adnoc and XRG’s capacity to optimise a growing and diverse LNG portfolio and reinforce Abu Dhabi’s position as a global energy trading centre, Adnoc added.
“With LNG demand set to grow substantially, the world will need reliable, responsible and trusted suppliers at scale," said Dr Sultan Al Jaber, Adnoc's managing director and group chief executive.
"This world-class, integrated commercial LNG platform brings together the full strength of Adnoc’s marketing, trading and shipping capabilities to create a single global hub in Abu Dhabi," Dr Al Jaber, who is also XRG's executive chairman, said.
"It marks a step-change in scale, flexibility and optionality of our LNG marketing and trading platform and will further position Adnoc to meet the world’s growing demand for energy.”
