Key facts
- ADNOC Gas will invest over $8 billion in its Rich Gas Development project.
- The project includes a new gas processing train at the Habshan facility and a natural gas liquids fractionation unit at the Ruwais LNG project.
- The Ruwais LNG facility is slated to begin operations in late 2028.
- The expansion aims to increase ADNOC Gas's LNG capacity to roughly 15 million tons per year.
- The company targets 60% EBITDA growth by 2030.
ADNOC Gas, the gas division of the UAE's ADNOC, has announced a significant expansion plan for its Rich Gas Development project, committing over $8 billion to boost its natural gas processing and export capabilities. This strategic move aims to capitalize on strong global demand projections for natural gas.
The investment includes $3.9 billion for a new gas processing train at the Habshan facility, which is the UAE's largest gas processing plant, and $4.3 billion for a natural gas liquids fractionation unit at the Ruwais LNG project. These developments follow a previous $5 billion commitment to the same project.
The Ruwais LNG project is poised to become one of the largest in the Middle East. It is scheduled to commence operations in late 2028, with the goal of more than doubling ADNOC Gas's current LNG capacity to approximately 15 million tons per year. The facility will feature two 4.8-million-ton-per-year liquefaction trains that will incorporate artificial intelligence and advanced technologies to enhance safety, efficiency, and emissions performance.
ADNOC Gas CEO Fatema Al Nuaimi stated that this investment decision marks a "defining moment" for the company, enabling it to accelerate its growth program and target a 60% increase in EBITDA by 2030. She emphasized that these investments will expand processing and export capacity, create shareholder value, and solidify ADNOC Gas's role in the UAE's energy future.