ADNOC Pursues Acquiring Natural Gas Fields in US

SEATTLE (Oil Monster): Abu Dhabi National Oil Company (ADNOC) looks forward to buy natural gas fields in the US to deepen its presence in the country, Bloomberg reported quoting people familiar with the matter.

The company wants the deals to complement its recent acquisitions of chemical plants and liquefied natural gas export facilities in the US., said the anonymous people.

Some of them stated that ADNOC CEO Sultan Al Jaber is set to outline the company’s investment strategy which includes expansion in the US, during a speech at the CERA Week energy conference in Houston.

The UAE’s approach is likely to appeal to U.S. President Donald Trump’s drive to attract investment to America and boost energy production

This transaction would give ADNOC access to both fuel and feedstock for its chemical’s plants and LNG export facilities and it will benefit from any increase in gas prices, according to Bloomberg.

Courtesy: www.egyptoil-gas.com