Abu Dhabi state firm Adnoc plans to IPO a newly-created entity overseeing its extensive gas processing and export operations. Adnoc has floated stakes in a number of its subsidiaries in recent years, but ‘Adnoc Gas’ is arguably the most core offering to date given its direct oversight over key elements of Abu Dhabi’s gas sector.
Adnoc announced on 28 November that its annual meeting the Adnoc Board of Directors “endorsed the creation of ‘Adnoc Gas’, a new world-scale gas processing and marketing company, effective 1 January 2023.” This will combine the operations, maintenance and marketing of Adnoc Gas Processing and Adnoc LNG “into one consolidated entity.” (CONTINUED - 837 WORDS)
