ABU DHABI – Emirates Steel Arkan (ADX: EMSTEEL), one of the region’s largest steel makers, has signed a 20-year liquefied natural gas supply agreement with ADNOC Gas worth between $3.5 billion and $4.2 billion, the companies said on Wednesday.
The agreement, effective from January 1, 2027, will ensure a stable and reliable supply of natural gas to power EMSTEEL’s operations and support its future growth plans, the companies said in a statement.
The deal reinforces a long-standing partnership between the two firms and underscores the UAE’s push to boost industrial growth and its cleaner energy transition.
“This strategic partnership not only ensures a secure and sustainable energy supply for our operations but also reinforces our shared commitment to maximizing In-Country Value and supporting the UAE’s Net Zero 2050 ambitions,” said Engineer Saeed Ghumran Al Remeithi, Group Chief Executive Officer of EMSTEEL.
He added that with ADNOC Gas as a key partner, EMSTEEL would continue advancing green steel production.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said the agreement underpins her company’s role in “boosting the UAE’s industrial growth and economic development.”
“We remain firmly committed to delivering reliable, lower-carbon energy that powers national industries,” Al Nuaimi said.
EMSTEEL, which says its operations are powered by 86% clean electricity, is a major supplier of steel to ADNOC’s energy and infrastructure projects. The company is investing in green hydrogen steelmaking and carbon capture as part of its sustainability drive.
The announcement comes days after the ADNOC Board of Directors held its annual meeting at the Habshan gas processing facility, a site operated by ADNOC Gas, highlighting the strategic importance of the gas business to the UAE’s energy security.