UAE state firm Adnoc Gas is optimistic that domestic demand for its core offerings will continue to grow strongly for the foreseeable future, exceeding forecast global demand growth of 14% by 2040. “We expect UAE [gas] demand growth to substantially exceed the global demand uplift, bolstered by strong GDP and population growth, as well as UAE government initiatives to attract new industries to the UAE,” Adnoc Gas COO Mohamed al-Hashemi told the firm’s 12 August Q2 earnings call.
Adnoc Gas was established by Adnoc to operate the firm’s midstream gas facilities, combining the operations, maintenance and marketing of Adnoc Gas Processing (AGP), Adnoc LNG (ALNG) and Adnoc Industrial Gases “into one consolidated entity,” with 5% of the venture listed on the ADX last year (MEES, 3 March 2023). (CONTINUED - 688 WORDS)
