Business | Oil & Gas
Abu Dhabi to invest $25b in gas facilities
State-controlled Abu Dhabi Gas Industries (Gasco) said on Monday it is investing about $25 billion in gas-processing plants and pipelines as it develops more fields to meet surging demand.
- Reuters
- Published: 23:00 May 12, 2008
Abu Dhabi: State-controlled Abu Dhabi Gas Industries (Gasco) said on Monday it is investing about $25 billion in gas-processing plants and pipelines as it develops more fields to meet surging demand.
"Two major gas-processing plants and around 10 new onshore gas pipelines covering a total of 1,500 kilometres are being built in and around Abu Dhabi over five to six years," Abdullah Al Darei, maintenance superintendent for the pipelines division at Gasco, said at an oil and gas conference in Abu Dhabi on Monday. "The total cost will be approximately $25 billion," he said.
Gasco is 68 per cent owned by Abu Dhabi National Oil Co (Adnoc), 15 per cent by each of Royal Dutch Shell and Total, and 2 per cent by Partex.
Gasco can process as much as 5.3 billion cubic feet per day of natural gas, though it is only operating at two-thirds capacity, Al Darei said.
The two planned gas-processing plants will be built at Habshan and Maqta, he said.
"New gas fields, like the Shah, with huge sour gas reserves, are being developed and additional gas-processing will be undertaken by Gasco," he said. "Rapidly growing demand for gas from industrial and other users has to be met."
Gasco operates 2,500 kilometres of pipelines, moving gas and related products such as crude oil, condensates, natural gas liquids and water.
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
