Home Business News ADNOC moves ahead with LNG investments

ADNOC moves ahead with LNG investments

22nd May 24 12:47 pm

In a significant move that underscores ADNOC’s growing ambitions in the global LNG market, the Abu Dhabi-based oil and gas giant has acquired a 11.7% stake in NextDecade’s Rio Grande LNG project in Texas, USA in a yearly 1.9 million ton of LNG supply deal over 20 years.

This strategic investment aligns with ADNOC’s focus on diversifying its energy portfolio and becoming a key player in the international LNG sector.

By focusing on this investment, ADNOC aims to strengthen its position as a reliable clean energy supplier to global markets.

The decision to invest in the Rio Grande LNG project, with a production capacity of 27 million metric tons per annum (MTPA), demonstrates ADNOC’s confidence in the long-term viability of the LNG industry.

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