ADNOC Sets Sights on U.S. Gas With Multibillion-Dollar Expansion Plan

The UAE’s ADNOC plans to invest billions of dollars in building a presence in the U.S. natural gas industry, the Financial Times reported today, citing the chief executive of ADNOC’s international investment division, XRG. Nameer Siddiqui told the FT that the company was in the process of evaluating as many as 29 potential acquisition targets in order to build a vertically integrated natural gas business in the United States, covering everything from extraction to pipeline transportation, liquefaction, and regasification in receiving…