ADNOC is centralising its LNG marketing and trading operations in Abu Dhabi, bringing together ADNOC Gas, XRG and ADNOC Trading as it targets 47m tonnes per annum of marketable LNG by 2035, according to ADNOC.
The new platform will be based in Abu Dhabi Global Market and will combine the LNG marketing activities of ADNOC Gas and XRG with the trading capabilities of ADNOC Trading.
The move gives ADNOC a single commercial structure for long-term LNG marketing across its combined portfolio, including future volumes from Ruwais LNG and XRG’s international gas and infrastructure growth.
Dr Sultan Al Jaber, ADNOC managing director and group chief executive and XRG executive chairman, said LNG demand would require “reliable, responsible and trusted suppliers at scale”.
ADNOC said ADNOC Trading will remain the counterparty for trading activities, while existing ADNOC Gas commercial LNG arrangements and customer interfaces will remain unchanged.
Rashid Al Mazrouei has been appointed chief marketing and origination officer for LNG and will oversee marketing of the combined equity LNG portfolios of XRG and ADNOC Gas from Abu Dhabi Global Market, working with ADNOC Trading.
The shipping element is being built around ADNOC Logistics & Services, which has expanded its owned LNG carrier fleet to 20 vessels, including 14 modern two-stroke LNG carriers, to support rising UAE LNG production and global LNG trade.
ADNOC is the Abu Dhabi-based energy group with businesses across upstream, downstream, gas, trading and logistics.