ADNOC Partners With Proman to Develop World-class Methanol Facility

The Abu Dhabi National Oil Company (ADNOC) has signed an agreement with Proman, one of the world's leading methanol producers, to develop the Ta'Ziz Industrial Chemicals Zone in Ruwais, Abu Dhabi, according to Arab trade news on March 6. UAE's first world-scale methanol production facility.

Under the terms of the agreement, Abu Dhabi Chemicals and Derivatives (Ta'Ziz) and Proman will build a natural gas-to-methanol facility with an expected annual capacity of 1.8 million tonnes. The facility will meet growing domestic and international demand for this clean and versatile chemical commodity that is gaining momentum as a low-emission fuel alongside existing industrial product uses. The project is still subject to relevant regulatory approvals.

Ta'Ziz is a joint venture between the Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company. The proposed collaboration will leverage Adnoc's attractive value proposition for downstream petrochemicals, ADQ's diverse portfolio and Proman's extensive construction and operational expertise as the world's second largest methanol producer.

Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said: "We are delighted to welcome Proman as our strategic partner in the development of the UAE's first domestic methanol production facility. This world-scale plant advances The mission of Ta'ziz is to diversify the UAE's economy and accelerate industrial development, enabling local supply chains through the production of new chemicals in the UAE.

"As Proman's first investment in the UAE, our agreement underscores the UAE's continued appeal as a highly attractive destination for international capital, supporting long-term industrial growth in Abu Dhabi's private sector."