Adnoc’s international expansion program went into overdrive this week as it snapped up stakes in its first two international LNG developments. Further acquisitions are in the works as the firm seeks to become a major player in the sector. The Abu Dhabi state energy giant’s international push began in late 2022 with the launch of its Low Carbon Solutions and International Growth division, which is driving expansion into what Adnoc sees as strategically positioned growth assets amid the energy transition.
One of these areas is international gas and LNG, while other areas include chemicals, where transactions are underway to invest in Germany’s Covestro and merge its Borealis and Borouge entities, as well as renewables, where Adnoc holds stakes in state firm Masdar’s renewables and hydrogen business lines. (CONTINUED - 1928 WORDS)
