ADNOC Gas to invest more than $20 B to raise gas processing capacity by almost 30%
ADNOC Gas will invest more than $20 billion to increase its gas processing capacity by almost 30% by 2029, its CEO Fatema Al Nuaimi said on Tuesday at the India Energy Week conference.
ADNOC Gas is a subsidiary of Abu Dhabi's state oil giant ADNOC.
Although the nation is steadily increasing alternative forms of energy (e.g., renewables) to power various sectors of the economy (part of the UAE’s Net Zero 2050 Strategy), the UAE still relies heavily on natural gas for power generation.
As the country’s power demand continues to increase due to population growth and the expansion of energy-intensive industries (e.g., industrial plants, LNG), additional
natural gas supplies are necessary to satisfy growing demand, as well as accomplish the UAE’s goal of natural gas self-sufficiency by 2030.
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