Abu Dhabi’s state oil company, ADNOC, is currently in the early phases of assessing a potential bid for the U.S. natural gas assets owned by Aethon Energy Management, according to a source with knowledge of the matter.
The company has recently pursued a number of acquisitions in the gas and chemicals sectors, which it views—alongside liquefied natural gas (LNG) and renewables—as central to its long-term growth plans.
Last year, ADNOC acquired an interest in NextDecade’s LNG export venture in Texas and secured a 20-year supply contract as part of the deal.
The source also indicated that other parties are involved in talks related to Aethon’s U.S.-based energy assets.
In November, Reuters reported that Aethon was exploring strategic options for its natural gas production and midstream holdings, which included a possible sale or an initial public offering, potentially valuing the business at around USD 10 billion.
Aethon’s upstream operations, primarily based in the Haynesville shale region spanning Louisiana and East Texas, rank among the largest privately owned natural gas producers in the United States.
