According to Amak News: Based on the Energy Intelligence report, ADNOC has announced three major foreign investments in LNG and low-carbon ammonia this year, initiated multibillion-dollar acquisition talks with a German specialty chemicals firm, and completed an acquisition in the fertilizer sector.
These investments are part of a broader strategy to position Abu Dhabi and the United Arab Emirates for a post-fossil fuel era, with aims to enhance economic diversification and reduce reliance on hydrocarbons.
The report adds that Masdar intends to continue its global investments to achieve its goal of reaching 100 gigawatts of renewable energy capacity by the end of the decade.
These recent developments follow last year’s first international upstream deal — the purchase of a 30% stake in Azerbaijan’s Absheron gas field — and a 10% equity acquisition in the UK carbon capture and storage specialist Storegga. Prior to these deals, ADNOC had made only one international investment in 2019, which was the purchase of a 10% stake in the Netherlands-based VTTI, a firm operating in Fujairah, UAE.
The report highlights that ADNOC's investment efforts have transformed the company from a conservatively managed, inward-looking national oil company into an international energy player. “The company is now positioned to be a key supplier of fertilizers, gas, and in the future, clean fuels such as low-carbon hydrogen,” the report states.
Additionally, the report mentions Masdar's international activities, noting that the clean energy firm is pursuing billions of dollars in global investments this year, showing no signs of slowing down. Masdar has announced four agreements for renewable energy assets in the United States, Greece, and Spain. The firm has expanded its operations to around 40 countries across Africa, Europe, North America, and the Asia-Pacific region, investing in solar energy, wind energy, waste-to-energy, and battery storage.
Owned by ADNOC, state investor Mubadala, and Abu Dhabi National Energy Company (TAQA), Masdar has increased its installed and in-development renewable energy capacity to approximately 31.5 gigawatts in recent years, achieved through both organic growth and mergers and acquisitions.