ADNOC announced the launch of a new global liquefied natural gas (LNG) marketing and trading platform based in Abu Dhabi Global Market (ADGM). The platform combines the LNG marketing activities of ADNOC Gas and XRG with the trading capabilities of ADNOC Trading, creating one integrated commercial platform.
According to ADNOC Gas, its existing LNG commercial arrangements remain unchanged, while the new platform is expected to create additional value by optimizing LNG marketing activities, including future volumes from the Ruwais LNG project.
Key highlights:
• ADNOC launches integrated global LNG marketing and trading platform
• Combines ADNOC Gas, XRG and ADNOC Trading into one commercial platform
• Based in Abu Dhabi Global Market (ADGM)
• Targets 47 million tonnes per annum (mtpa) of marketable LNG by 2035
• Expected to become one of the world’s leading LNG marketing and trading platforms
• Supports future LNG volumes from the Ruwais LNG project
According to ADNOC, the platform will:
• Enhance marketing flexibility and shipping optionality
• Broaden customer access to ADNOC and XRG’s LNG portfolio
• Strengthen Abu Dhabi’s position as a global energy trading hub
• Improve optimisation of a growing and diversified LNG portfolio
Operational highlights include:
• Rashid Al Mazrouei appointed Chief Marketing & Origination Officer (LNG)
• ADNOC Gas has delivered more than 3,500 LNG cargoes since 1977
• ADNOC Trading has built a significant third-party LNG portfolio within just four years
• ADNOC Trading now operates from Abu Dhabi, Singapore and Geneva
• ADNOC L&S has expanded its owned LNG fleet to 20 vessels, including 14 modern two-stroke LNG carriers
His Excellency Dr. Sultan Al Jaber said the integrated platform represents a step-change in ADNOC’s LNG marketing and trading capabilities and will strengthen the company’s ability to meet growing global demand for reliable energy while reinforcing Abu Dhabi’s role as a global energy trading centre.
Source: Abu Dhabi Securities Exchange (ADX) Disclosure / ADNOC Gas / ADNOC
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.