UAE’s ADNOC Gas has announced more than $8.2 billion in new investment in its Rich Gas Development project as it targets a 60% increase in EBITDA (earnings before interest, taxes, depreciation, and amortization) by 2030.
Under the plan, $3.9 billion will be invested in a new gas-processing train at the Habshah facility, the UAE’s largest gas-processing plant, while another $4.3 billion will fund a new natural gas liquids fractionation unit at Ruwais LNG.
The latest investment follows an earlier $5 billion commitment to the Rich Gas Development project, which covers several gas-processing and LNG facilities in the UAE.
The Ruwais LNG project is expected to begin operations in late 2028 and will more than double ADNOC Gas’s existing LNG capacity to around 15 million tons per year. The facility will feature two 4.8-million-tons-per-year liquefaction trains equipped with artificial intelligence and advanced technologies aimed at improving safety, efficiency and emissions performance.
ADNOC Gas CEO Fatema Al Nuaimi said the investment would accelerate one of the world’s largest gas-processing expansion programs while significantly increasing the company’s natural gas processing and export capacity.