Prime Highlights
- Adnoc launched a unified global LNG marketing and trading platform at Abu Dhabi Global Market.
- The company aims to achieve 47 million tonnes per annum of marketable LNG capacity by 2035.
Key Facts
- Adnoc is the national oil company of the United Arab Emirates and a major global energy producer.
- The new platform integrates the LNG commercial operations of Adnoc Gas, XRG and Adnoc Trading.
Background
The Abu Dhabi National Oil Company (Adnoc) has launched a worldwide liquefied natural gas (LNG) marketing and trading company at ADGM, which consolidates the commercial operations of Adnoc Gas, XRG, and Adnoc Trading into one. This is meant to help build Adnoc’s LNG business worldwide and enhance its marketing and trading as well as shipping operations.
The integrated platform is designed to provide greater flexibility, wider shipping options and better customer access as Adnoc expands its LNG portfolio. It will also support the growth of XRG’s international gas and infrastructure business, including future supplies from the Ruwais LNG project.
Adnoc said the platform builds on its experience as a global LNG supplier, having delivered more than 3,500 LNG cargoes worldwide since 1977. The company aims to achieve a combined marketable LNG capacity of 47 million tonnes per annum by 2035, strengthening its position in the global LNG market while reinforcing Abu Dhabi’s role as an international energy trading hub.
Chief Marketing and Origination Officer (LNG) Rashid Al Mazrouei has been appointed. He will oversee the marketing of the combined LNG portfolios of Adnoc Gas and XRG from ADGM and work closely with Adnoc Trading to centralise long-term LNG marketing activities. Existing commercial agreements of Adnoc Gas will continue while the platform creates opportunities to optimise future LNG volumes.
Adnoc Trading will remain responsible for trading activities and customer engagement. Meanwhile, Adnoc Logistics and Services has expanded its LNG fleet to 20 vessels, supporting higher production and growing global LNG trade.
