This potential transaction, which could be valued at billions of dollars, may be announced soon. Credit: T. Schneider/Shutterstock.

Abu Dhabi National Oil Company (ADNOC) is reportedly contemplating the sale of a 3–5% stake in Adnoc Gas, according to a report by Bloomberg.

This potential transaction, which could be valued at billions of dollars, may be announced soon.

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However, no final decisions have been made and ADNOC may reconsider if market conditions are unfavourable, said the report.

ADNOC Gas CEO Ahmed Mohamed Alebri said: “Over the next five years, we plan to invest $15bn in capex in projects which will enable us to capture opportunities from the forecast increase in domestic and global demand for the lower-carbon gases we produce,” in a separate report by Gulf Business.

In May, ADNOC raised $935m (Dh3.43bn) by selling a 5.5% stake in its drilling unit to institutional investors. Meanwhile, ADNOC Gas has secured a ten-year sales and purchase agreement with GAIL India.

This agreement involves supplying up to 520,000 tonnes per annum of LNG, starting in 2026, reinforcing a previous agreement announced in January.

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ADNOC Offshore has also awarded a significant contract for the second phase of an engineering, procurement and construction (EPC) project at the Upper Zakum offshore field to Target Engineering Construction Company.

This project aims to boost the oil production capacity of the field to 1.2 million barrels per day. The Upper Zakum field, located 84km offshore in Abu Dhabi, is among the world’s largest offshore oilfields.

The project, named UZ 1.2MMBD EPC-2, is valued at approximately $500m and involves EPC works on several structures on Assefiya Island.

ADNOC Gas is also set to acquire a 60% stake in the Ruwais LNG plant from ADNOC for an estimated $5bn by the second half of 2028. This acquisition aligns with ADNOC Gas’ strategy to expand its liquefied natural gas (LNG) capacity and strengthen its global market presence.

Currently, ADNOC Gas is overseeing the design and construction of Ruwais LNG on behalf of the ADNOC Group. The company’s strategic moves aim to enhance its position in the global LNG market.