Abu Dhabi – MENA Herald: The Abu Dhabi National Oil Company (ADNOC) plans to capitalise on increased sulphur processing capabilities,by doubling production and targeting new markets in Africa, Asia, South America and Australia, according to Omar Suwaina Al Suwaidi, ADNOC’s Gas Management Director.
During his keynote speech, today, at the inaugural Middle East Sulphur Conference, Al Suwaidi said ADNOC’s clear focus is on retaining and strengthening the company’s competitive edge, and on maximising the value of the UAE’s natural resources, including sulphur, a by-product of gas processing.
Al Suwaidi said:“We produce 6 million tonnes of sulphur per year and we expect production to double over the coming decade, due to the increased volume of sulphur coproduced from our existing and plannedsour gas processing facilities. Not only will this cement our position as the world’s number one sulphur exporter, it will also make the UAE the largest producer of sulphur in the world.”
While sulphur has been traditionally seenas a by-product of the oil and gasindustry, ADNOC believes it is a commercially viable commodity that offers the company opportunitiestocreate added value from its resources and improve margins.
“In thelower for longer oil price environment, it is imperative to effectively manage costs and seize value opportunities where they arise,” Al Suwaidi said.“It is about unlocking the full potential of every single asset and maximising returns for Abu Dhabi, ADNOC and the nation.
“Our increased focus on maximising the value of our sulphur resourceswill not only generate additional revenue, it will also contribute to the UAE’s strategic objective of diversifying the nation’s economy.”
ADNOC will utilise its increased sulphur capabilities to support the development of a local sulphur products industry, including advanced fertilizers.Internationally, the company plans to enter into partnerships in markets that manufacture phosphate based fertilizers in Africa, Asia, South America and Australia.
The ADNOC supported Middle East Sulphur 2017 conference, which runs until February 16, aims to explore the entire sulphur value chain and the growing role of the region in shaping the future of the sulphur market.
During the conference, ADNOC will host, and participatein,a series of technical and commercial sessions to shed light on the company’s sulphur strategy and explore opportunities for future growth and collaboration.
