ADNOC units to distribute $43b in dividends by 2030

The company added that ADNOC Gas has signed a 20-year gas supply agreement with Ruwais LNG valued at AED147 billion ($40 billion) to provide feedstock for the new LNG plant, which is expected to begin production in 2028 and more than double ADNOC’s LNG capacity.

ADNOC also said that the planned merger of its and OMV’s petrochemical firms, Borouge and Borealis, to form Borouge Group International, remains on track to be completed by the first quarter of 2026, with some regulatory approvals already obtained.