Press releases, Reports & Disclosures for ADNOC Gas plc

ADNOC Gas has signed a 10-year Sales and Purchase Agreement (SPA) with GAIL India Limited, India's largest natural gas company, to supply up to 0.52 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG) starting in 2026. This agreement marks ADNOC Gas' first LNG SPA with GAIL and strengthens its position as a reliable global LNG provider. The SPA converts a previous Heads of Agreement into a definitive agreement. ADNOC Gas plans to increase its LNG production capacity to over 15 mmtpa by 2028 following the expected acquisition of a 60% stake in Ruwais LNG. The LNG will be supplied from ADNOC Gas’ Das Island liquefaction facility, which has a production capacity of 6.0 mmtpa and has been operational since 1977. Rashid Khalfan Al Mazrouei, ADNOC Gas Senior Vice President, stated that the agreement supports ADNOC Gas' growth ambitions and reinforces its role as a preferred energy partner in India. Global LNG demand is projected to rise by 15% over the next decade, driven by industrial coal-to-gas switching in China and increased LNG use for power generation in Southern and Southeast Asia.

ADNOC Gas PLC (AG) has released its interim condensed consolidated financial statements for the nine-month period ending on September 30, 2024.

ADNOC Gas plans to acquire a 60% stake in the Ruwais LNG plant from ADNOC at cost, estimated at $5 billion, in the second half of 2028. This acquisition will significantly increase ADNOC Gas's LNG processing capacity to 15.6 million tonnes per annum (mtpa). The Ruwais LNG plant, which will be the first in the MENA region to operate on clean grid power, aims to be one of the world's lowest-carbon intensity LNG plants. This announcement aligns with ADNOC Gas's strong Q3 results and updated growth strategy. The plant's construction and design are managed by ADNOC Gas, which has already committed over 7 mtpa of its 9.6 mtpa capacity to international customers. ADNOC Gas plans to invest $15 billion in capital expenditures over the next five years to capitalize on increasing demand for lower carbon gases.

ADNOC Gas PLC (AG) has released its interim condensed consolidated financial statements for the nine-month period ending on September 30, 2024.

ADNOC Gas plc released its earnings report for the third quarter and the first nine months of 2024. The report includes a management discussion and analysis, dated November 11, 2024.

The Board of Directors of ADNOC Gas Plc held a meeting on Friday, November 8, 2024, at 3:00 p.m. via video conference. During the meeting, the Board approved the company's financial statements for the third quarter of the 2024 financial year. Additionally, the Board reviewed recent developments related to the company's activities and projects. The meeting details were communicated by Dr. Ahmed Mohamed Alebri, the CEO of ADNOC Gas Plc, with a copy of the information sent to the Securities and Commodities Authority.

The Board of Directors of ADNOC Gas Plc will hold a meeting on Friday, 8 November 2024, at 3:00 p.m. via video conference. The agenda includes reviewing and approving the company's financial statements for the third quarter of 2024, as well as discussing general matters related to the company's activities and projects. The notice is issued by Dr. Ahmed Mohamed Alebri, the Chief Executive Officer of ADNOC Gas Plc, and a copy has been sent to the Securities and Commodities Authority. All parties have agreed to electronic signatures for this document.