Abu Dhabi National Oil Company, ADNOC, has secured $11 billion in structured financing to support its future Hail and Ghasha offshore gas development, according to a Reuters report on Thursday. The deal, backed by a consortium of about 20 international and regional banks, provides ADNOC with long-term funding well ahead of large-scale production. It marks the first greenfield gas project globally to be financed through a pre-export structure tied to future output. The financing underscores strong lender confidence in ADNOC’s balance sheet and long-term gas demand. The company said the funds will help accelerate development timelines and strengthen the UAE’s gas self-sufficiency goals.

The Hail and Ghasha project is a cornerstone of the UAE’s plan to expand domestic gas production while supporting global energy markets. ADNOC aims to tap the fields to supply gas for power generation, industrial use, and export markets over the long term. The project gained renewed urgency after Russia’s Lukoil exited earlier this year due to Western sanctions, prompting ADNOC to restructure financing and partnerships. Analysts say the successful funding highlights the company’s ability to attract capital even amid geopolitical uncertainty. The financing structure also reduces near-term pressure on ADNOC’s cash flows.

Energy analysts describe the transaction as a signal that global lenders remain willing to back large gas projects, especially those linked to national energy strategies. Natural gas continues to be viewed as a transition fuel, balancing emissions goals with energy security concerns. ADNOC has positioned gas as a key pillar of its decarbonisation strategy, arguing it emits less carbon than coal and oil when used for power. The company has also pledged to apply lower-carbon technologies across the project. These commitments helped reassure banks and institutional lenders supporting the deal.

The financing comes at a time when Middle Eastern energy producers are ramping up investments to maintain market relevance during the global energy transition. Countries like the UAE and Qatar are betting on gas demand remaining strong in Asia and parts of Europe for decades. ADNOC’s ability to raise capital at scale reinforces Abu Dhabi’s role as a major energy supplier. Market observers say the deal could encourage similar financing models for future energy infrastructure projects. It also highlights the growing sophistication of energy financing structures in the region.

For global markets, ADNOC’s financing deal reflects the continued intersection of geopolitics, energy security and long-term investment planning. While renewable energy investment is rising, gas projects like Hail and Ghasha show that hydrocarbons still attract significant capital. Investors will watch closely how ADNOC deploys the funds and manages project execution amid shifting energy policies. The success of the project could shape future financing strategies across the global gas sector.

Source: Reuters.