VOL. XL

No. 26

30-June-1997

UAE

ADNOC To Get 70% Stake In Adgas LNG Plant Under Equity Deal With Foreign Partners

The Abu Dhabi National Oil Company (ADNOC) has increased its stake in the Abu Dhabi GasLiquefaction Company (Adgas) to 70% from 51% as part of a new equity arrangement approvedby the emirate's Supreme Petroleum Council on 24 June. Under the new ownership structure,the three foreign shareholders in Adgas will see their equity interest drop to a combined30%, down from 49% previously....