ABU DHABI, UAE – ADNOC has signed a framework agreement with Saudi Aramco to address opportunities for collaboration in the natural gas and LNG markets.
Both companies are looking to increase revenues from their natural gas and LNG business segments.
They will jointly assess investment opportunities across the LNG value chain and will co-operate on techno-economic feasibility studies, exchanging knowledge and experience in LNG growth markets.
The agreement follows the recent announcement thatAbu Dhabi’s Supreme Petroleum Council has approved ADNOC’s new integrated gas strategy designed to sustain its LNG production through 2040 and to allow the company to capitalize on incremental LNG and gas-to-chemicals growth opportunities.
It also allows the company to explore LNG investment opportunities and expand international LNG trading expansion, mainly to serve customers in the Asian markets.