The United Arab Emirates (UAE)'s ADNOC Gas on Wednesday said it awarded a $3.6 billion contract to expand its gas processing infrastructure, including the commissioning of new processing facilities.
The contract was awarded to a joint venture between the UAE's National Petroleum Construction Company (NPCC) and Tecnicas Reunidas, a Spanish general contractor, according to a statement carried by the official WAM news agency.
"The scope of the contract includes the commissioning of new gas processing facilities which will enable an optimized supply to the Ruwais Industrial Complex" in the western Al Dhafra region, the statement said.
The contract coincides with a larger plan "to enable increased gas recovery from existing fields and develop untapped resources," the statement said.
ADNOC Gas, estimated to have the seventh largest gas reserves globally, is a subsidiary of state energy giant Abu Dhabi National Oil Company (ADNOC).
ADNOC, the UAE's key revenue earner, retains a 90% stake.
Last month, the energy giant said it had accelerated its emission reduction goal to achieve carbon neutrality by 2045 instead of 2050.
It said it intends to "increase its investments and redouble efforts in decarbonization," relying on an initial financing of $15 billion for "low-carbon solutions" and achieving zero methane emissions by 2030.
The UAE, one of the world's leading oil exporters, is set to host the United Nations climate summit in November and December.
Gas is being touted as cleaner than other fossil fuels as countries around the world strive to reduce their emissions.
In 2021, the UAE produced 57 billion cubic meters (bcm) of natural gas, or about 1.4% of global output, according to the BP Statistical Review of World Energy.
That same year, the Emirates exported 8.8 bcm of LNG, 1.7% of world LNG exports, the Statistical Review said.
