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ADNOC inks long-term gas sales agreements amid self-sufficiency target - S&P Global

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Highlights

ADNOC developing conventional, unconventional gas resources

UAE targeting gas self-sufficiency in coming decades

Goal coincides with expiry of gas agreement with Qatar in 2032

Abu Dhabi National Oil Co. has signed long-term gas sales agreements with two industrial firms as the UAE seeks gas self-sufficiency with the help of international oil companies working on various field developments in OPEC's third largest producer.

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ADNOC signed the 10-year agreements with Emirates Steel and construction company Arkan, it said in a statement May 25. The national oil producer can pump 11 Bcf/d of natural gas and over 1 Bcf/d of sour gas, with most of the commodity going to customers in the UAE.

It currently supplies over two-thirds of the local industrial sector's power needs, it added.

"ADNOC remains committed to delivering a more sustainable and economic gas supply and enabling gas self-sufficiency for the UAE," Khaled Salmeen, ADNOC executive director, downstream industry, marketing and trading directorate, said in a statement.

The seven-member UAE federation is developing several gas projects in various emirates as part of the self-sufficiency target.

In energy-rich Abu Dhabi, ADNOC is developing both conventional and unconventional resources to help meet the gas goal.

The target will coincide with the 2032 expiry of a gas agreement with Qatar, which currently pipes 2 Bcf/d of gas to the UAE and Oman through the Dolphin Energy Pipeline, a joint venture grouping Abu Dhabi sovereign wealth fund Mubadala Investment Co. (51%), Total (24.5%) and Occidental (24.5%)

Unconventional gas

In 2019, Abu Dhabi's former Supreme Petroleum Council announced that the emirate had 273 Tcf of conventional gas and 160 Tcf of unconventional gas resources.

ADNOC has been boosting its gas output with the help of international oil companies.

In November, ADNOC and Total announced the delivery of first gas from the Ruwais Diyab Unconventional Gas Concession, a joint venture in which the French major has a 40% stake and the national oil producer the remainder. The concession aims to produce 1 Bcf/d of gas before 2030.

Germany's Wintershall and Italy's Eni are working with ADNOC to develop the Ghasha ultra-sour gas concession, which is expected to produce over 1.5 Bcf/d by around 2025. In addition, ADNOC plans to boost production from its Shah sour gas field from about 1.3 Bcf/d to 1.5 Bcf/d through its joint venture with Occidental.

It also plans to move forward to develop the sour gas fields at Bab and Bu Hasa.

ADNOC and Dubai's gas supplier DUSUP announced in February last year plans to develop a new shallow gas reservoir with estimated reserves of 80 Tcf, which was discovered along the border of Dubai and Abu Dhabi.

In 2020, Eni and Sharjah National Oil Corp. said they discovered gas and condensates in Sharjah, the first onshore find in the UAE's third biggest emirate in 37 years.

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ADNOC inks long-term gas sales agreements amid self-sufficiency target - S&P Global
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