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ADNOC Gas to invest over $8 billion in Rich Gas Development

The expansion is expected to add LNG capacity, with the Ruwais LNG project targeting roughly 15 million tons per year and starting operations in late 2028.

Reported · Written up by our desk · Energy

ADNOC Gas, the gas unit of the Emirati energy company ADNOC, said it will spend more than $8 billion on its Rich Gas Development project.

The plan covers multiple facilities, including the Habshah gas project and the Ruwais LNG project. Investment allocations include $3.9 billion to build a new gas processing train at Habshah, and $4.3 billion for a new natural gas liquids fractionation unit at Ruwais LNG.

ADNOC Gas said the Ruwais project is designed to become one of the largest liquefied natural gas facilities in the Middle East, with start-up expected in late 2028. The company said the project would more than double its existing LNG capacity to roughly 15 million tons per year, supported by two 4.8 mtpa liquefaction trains.

The new capex follows an earlier $5 billion commitment to the Rich Gas Development project. ADNOC Gas also said it is targeting 60% growth in earnings before interest, tax, depreciation, and amortization by 2030, and that the trains will use artificial intelligence and advanced technologies to improve safety, efficiency, and emissions performance.

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