UAE’s Energy Giant Boosts Natural Gas Supply and Investments

ADNOC Gas, the natural gas unit of Abu Dhabi’s national oil company, is raising its capital expenditure and gas supply, expecting global LNG demand to continue growing by 3% every year by 2040, ADNOC Gas said in a strategy update on Monday. ADNOC Gas says it is positioned to capture a “highly supportive market backdrop” with robust local gas demand, exponential demand growth in Asia, 3% global annual LNG demand growth, and the AI boom driving additional global LNG demand by 2030. The company also sees an LNG supply gap over the…