- ADNOC Gas has awarded a $3.6 billion contract to the joint venture between NPCC and Tecnicas Reunidas S.A. to expand its gas processing infrastructure in the UAE. This project, known as MERAM, aims to increase ethane extraction by 35-40% from existing facilities and deliver more value to the Ruwais Industrial Complex through new gas processing facilities and a dedicated NGL pipeline. Over 70% of the contract's value will contribute to the UAE's economy under ADNOC's In-Country Value program, supporting local economic growth and diversification.
- The expansion project aligns with ADNOC's integrated gas masterplan, focusing on sustainable and economic natural gas supply to meet local and international demand. This investment underscores ADNOC Gas's commitment to meeting energy demand, providing additional energy to the country's industrial sector, and fostering economic growth through the contract's significant In-Country Value contribution. Natural gas, as a lower-emission transitional fuel and industrial raw material, holds importance in the UAE's energy strategy and industrial value chains.
Why it matters
ADNOC Gas provides about 60% of the sales gas needs in the UAE, and sells its products to customers in more than 20 countries and has raised $ 2.5 billion from the gas business offering, which is considered one of the largest initial offerings around the world during 2023, as the state-owned "ADNOC" sold a 5% stake in the company, whose value is estimated at about $ 50 billion.