ADNOC Gas Signs $4-Billion Supply Deal With Regional Steel Giant

Group 1 - ADNOC Gas has signed a $4 billion deal to supply natural gas to EMSTEEL for 20 years starting in 2027, focusing on lower-carbon energy [1][2] - The agreement strengthens the partnership between ADNOC Gas and EMSTEEL, highlighting their commitment to sustainable economic growth in the UAE [2] - ADNOC Gas supplies 60% of the UAE's natural gas needs, emphasizing its strategic role in the nation's industrial growth and energy security [4] Group 2 - The UAE has approved a $150 billion capital program for 2026–2030 to expand its national energy strategy, which includes significant increases in oil and gas reserves [3][5] - Oil reserves in the UAE have increased by 7 billion stock tank barrels to 120 billion STB, while gas reserves have risen by 7 trillion cubic feet to 297 tscf [5] - The board of ADNOC has approved CAPEX of $150 billion over the next five years to enhance upstream capacity, expand gas output, and accelerate growth in downstream and chemicals [6]