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18 min ago 2 min read
UAE energy group Adnoc is to combine the marketing of Adnoc Gas and investment firm XRG with its trading arm to create a single integrated LNG platform, based in the Abu Dhabi Global Market (ADGM).
It has set a target of 47 million tonnes per annum (mtpa) of marketable LNG by 2035.
Abu Dhabi would control over 10% of current global trade volumes, directly competing with established global energy trading hubs such as London, Singapore, and Houston.
In a video, the group said it means broader reach, access to global and diverse sources and greater flexibility for its customers.
The platform is designed to market future production from domestic mega-projects, specifically the upcoming development, which is scheduled to begin commercial operations in the second half of 2028.
It will leverage on Adnoc Logistics & Services too, which has grown to an owned fleet of 20 LNG vessels, while Adnoc Gas can draw on 50 years’ experience of LNG.
XRG recently acquired a 7.6% stake in of Rio Grande LNG in Brownsville, Texas.
Alan Talib, Founder & CEO of NordGulf Alliance, the cross-border investment and advisory firm, said, “One front door is the phrase that matters here, consolidating marketing and trading under ADGM turns molecules into market infrastructure … reaching 47 mtpa by 2035 would put Abu Dhabi in a different league of LNG sellers.”
Following the Middle East crisis, the combined effect of short-term supply losses and slower capacity growth could result in a cumulative loss of around of LNG supply between 2026 and 2030, according to the International Energy Agency.
