Abu Dhabi National Oil Co. (Adnoc) is advancing plans to launch an initial public offering (IPO) that would combine the United Arab Emirates’ (UAE) largest natural gas companies as part of a broader plan aimed at attracting more foreign investors and funding for long-term projects. 

“Natural gas will be a critical fuel in the energy transition and ADNOC Gas…will be well-positioned to meet both local and international gas demand… and play a critical role in delivering Adnoc’s broader LNG expansion plans, including in international markets,” said Adnoc Managing Director Sultan Ahmed Al Jaber.

The new company would bring Adnoc’s liquefied natural gas and gas processing units together to form Adnoc Gas. Unveiled late last year, Adnoc intends to move ahead with an IPO...