Adnoc Gas Sees LNG Usage Rising as First-Timers Enter Market
- Ruwais project will more-than double Abu Dhabi’s LNG capacity
- Shares jump as much as 4.3% after second-quarter results
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Global liquefied natural gas demand is expected to increase further as more countries turn to imports for the first time, Adnoc Gas’ Chief Financial Officer Peter Van Driel said.
To tap some of these new consumers, parent company Abu Dhabi National Oil Co. is building a new plant at Ruwais that will more than double the UAE’s LNG export capacity when it starts operating in 2028. Oman and Qatar are also expanding their LNG production facilities.