Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC) agreed to join forces to assess investment possibilities in natural gas and liquefied natural gas (LNG) and share technical knowledge in an attempt to increase revenues. The deal brings together two of the largest energy producers in the Arabian Gulf.
“Our partnership with ADNOC continues to strengthen, after the recent decision to jointly develop a major refinery in India. We have shared strategic interest to expand our gas businesses, and this new agreement underlines our confidence in strong global gas demand growth. Our cooperation further supports the corporate transformation strategy of both ADNOC and Saudi Aramco to pursue opportunities that help unlock greater value for both companies, and meet the growing needs of stakeholders around the world that depend on our energy to develop and grow their economies,” said Amin H. Nasser, President and CEO of Saudi Aramco, one of the signees of the agreement, with His Excellency Dr. Sultan Ahmed Al Jaber, ADNOC Group CEO, signing for ADNOC.
