United Arab Emirates will boost oil and gas output

Significance

Recent high prices have generated windfall revenues for this investment. Projected declines in global oil demand support the increased extraction policy. In parallel ADNOC is expanding liquefied natural gas (LNG) processing and seeking more gas deposits.

Impacts

• New oil and gas finds arising from intensified exploration will be fast-tracked into commercial production.
• Abu Dhabi will become a major user of, and innovator in, carbon capture use and storage (CCUS) technologies.
• LNG exports will be prioritised in the near term, to profit from a global supply crunch.