ADNOC plans to create a new energy infrastructure venture comprising its pipeline and storage facilities to generate more value.
As part of the company's wide ranging expansion it its partnership model, which involves more active management of its portfolio of assets, the infrastructure venture could include the bundling of selected assets such as oil, gas or refined products pipelines and storage facilities.
It also plans to further open its downstream business to create a number of new partnership and investment opportunities across its refinery and petrochemical assets.
His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC group CEO, says: 'Shifting global trends are creating a new energy landscape where new rules of engagement are required. In this new energy era, we need more creative strategies and more flexible business models to capture growth.
'Our new approach comes at a time when global economic growth and energy demand is shifting east. These changes in energy demand sit alongside a rapid increase in demand for products derived from hydrocarbons – petrochemicals, plastics and polymers.'
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