According to financial executive director Peter van Drrail, the UAE “ADNOC Gas” has allocated $ 20 billion to investment projects to investment projects in the next five years. In an interview with “Al -Sharq”, he pointed out that the LNG project, which is currently being developed in the industrial city of Al -Ruwais in Abu Dhabi, increases the production capacity of the company annually by 9.6 million tonnes to reach the annual production capacity of approximately 16 million tonnes, compared to 6 tonnes currently. The UAE company achieved growth in the net profit of the second quarter by 16% year -on -year to reach 5.09 billion dirhams ($ 1.385 billion). However, turnover fell slightly by 2% in the same period to $ 21.8 billion Dirhams ($ 5.96 billion) in light of the decline in the value of export sales compared to the same period in the previous year, according to the announcement of a published Abu Dhabi stock exchange website. Derl, a strong demand in the UAE, attributes the increase in profits to the strong demand in the Emirates market due to population growth and the strength of the economy. He explained that two -thirds of the production is to the local market, which slightly at the company’s decline in exports in this term, on the company’s results. To improve the company’s presence in the foreign markets, Adnoc Gas concluded last Monday, an agreement to deliver 0.5 million tonnes of LNG for the Indian petroleum business annually. Derril expected strong performance and growth in profits during the remaining two quarters of the year, noted that it would support the achievement of growth plans and the increase in profit distributions annually by 5%, according to the company’s declared plans.
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