Emirati group ADNOC announces $3.6 billion gas processing expansion. The contract was awarded to a joint venture between a local company and a Spanish group.
Ruwais industrial complex: $3.6 bn for infrastructure expansion
The announcement comes as the wealthy Gulf oil state prepares to host the UN’s COP28 climate conference at the end of November, amid criticism from environmentalists of the impact of fossil fuels on global warming.
“ADNOC Gas today announced the award of a $3.6 billion contract to expand its gas processing infrastructure in the United Arab Emirates,” reported the country’s official news agency, WAM.
The contract was awarded to a joint venture between two companies specializing in oil and gas engineering, the Emirates’ National Petroleum Construction Company and the Spanish group Tecnicas Reunidas.
New gas processing infrastructure for the Ruwais industrial complex
“The contract includes the commissioning of new gas processing infrastructure that will optimize supply to the Ruwais industrial complex in the western emirate of Abu Dhabi,” said WAM.
It is part of a strategy “to increase gas extraction from existing fields and develop untapped resources”, the agency added.
ADNOC Gas has gas reserves ranked seventh worldwide. The company is a subsidiary of crude oil exporter ADNOC. Last month, the Group expressed its intention to achieve carbon neutrality by 2045 rather than 2050, as previously announced.
Preparations for COP28: Controversial appointment of ADNOC boss
Sultan Al-Jaber, CEO of ADNOC, has been President of COP28 since January. Environmental activists had already criticized this decision and expressed their skepticism. In an interview with AFP, the defender of the oil and gas industry nonetheless acknowledged. He asserted that the reduction of oil and gas was “inevitable” and “essential”. He also called for a realistic approach to avoid an imminent global “energy crisis”.
