ADNOC Gas is a key enabler of ADNOC’s ambitious growth plans and decarbonization strategy. We are also a central pillar of Abu Dhabi's and the UAE's energy ecosystem, capitalizing on access to 95% of the UAE's natural gas reserves, the 7th largest natural gas reserves globally, enabling UAE gas self-sufficiency and industrial growth, and expanding export capacity to meet increasing global gas demand. .
ADNOC Gas was formed as part of the consolidation of the operations of ADNOC Gas Processing, ADNOC LNG and ADNOC Industrial Gas. The company became operational on 1 January 2023.
In one of the largest ever Initial Public Offerings (IPO) in the region, ADNOC Gas became a publicly traded company in March 2023, when approximately 5% of its shares were listed on the Abu Dhabi Securities Exchange (ADX).
These developments have added to our rich heritage that stretches back almost 50 years. We were the first company to establish gas processing and liquefaction facilities in the region and have the third longest continuous LNG operation in the world. We have continued to invest to add capacity and maintain the very highest levels of reliability achieved across our operations.
As we transition to a lower carbon intensive energy mix, the world will still require supplies of natural gas and LNG to meet its growing energy needs. As the lowest-emission hydrocarbon, natural gas is one of the enablers of the energy transition. We are strongly placed to meet these growing needs and are strategically located to supply the emerging economies of Asia where growth is expected to be concentrated.
Our story is closely aligned with that of the UAE and the strong development and diversification of the nation’s economy. Our gas has been central to that transformation, utilized to power the growing industrial, commercial and residential sectors. We have also generated healthy revenues and economic opportunities, while driving sustainable solutions. to deliver the essential energy our customers need.
Strong partnerships are integral to the way we operate. Indeed, our business was founded on two key joint ventures, which remain strong today and align us with leading international players.
The Das Island offshore LNG facilities are owned in a joint venture with partners Mitsui, bp and TotalEnergies. Onshore, certain gas processing assets are held in a joint venture with Shell, Total Energies and PTTEP. ADNOC Gas holds the Group’s majority interests in these two joint ventures and operates all the JV facilities alongside those held on an ADNOC sole-risk basis.
These partners have helped us embed world-class expertise and best practices throughout our operations.