Media ININ Economy We Trust
Media In/ Dhahran 12 November 2018
Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) signed an agreement to create synergies in the natural gas and LNG sector, which has the potential to enhance value and grow revenues in a market of strategic importance to both companies.
Saudi Aramco and ADNOC will assess investment opportunities through the value chain for natural gas and liquefied natural gas (LNG) and exchange knowledge and technical expertise in the field. The agreement is an extension of the two companies’ agreement earlier this year to participate in an integrated refining and petrochemical project in India.
LNG is the fastest growing hydrocarbon at 4% per annum. Global demand for this gas is expected to exceed 500 million tons per year by 2035, up from the demand levels in 2017 which amounted to about 300 million tons. ADNOC Gas LNG, a subsidiary of ADNOC, is a reliable supplier of this gas and has a proven track record of 40 years in this field and accounts for 2% of the global market share of LNG.
Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) signed an agreement to create synergies in the natural gas and LNG sector, which has the potential to enhance value and grow revenues in a market of strategic importance to both companies.
Saudi Aramco and ADNOC will assess investment opportunities through the value chain for natural gas and liquefied natural gas (LNG) and exchange knowledge and technical expertise in the field. The agreement is an extension of the two companies’ agreement earlier this year to participate in an integrated refining and petrochemical project in India.
LNG is the fastest growing hydrocarbon at 4% per annum. Global demand for this gas is expected to exceed 500 million tons per year by 2035, up from the demand levels in 2017 which amounted to about 300 million tons. ADNOC Gas LNG, a subsidiary of ADNOC, is a reliable supplier of this gas and has a proven track record of 40 years in this field and accounts for 2% of the global market share of LNG.
