Abu Dhabi National Oil Company (Adnoc) is currently evaluating a bid for the natural gas assets of Aethon Energy Management, a US-based investment firm focused on energy. According to sources familiar with the matter, these assets could be valued at approximately $9 billion.

Adnoc is collaborating with advisors to assess this potential offer, as other interested parties are also looking at Aethon’s natural gas and midstream assets, which are primarily located in Texas and Louisiana. The discussions are still in their early phases, and it remains uncertain whether recent fluctuations in the market will affect the transaction. Representatives from both Adnoc and Aethon have chosen not to comment on the situation.

This interest from Adnoc aligns with the United Arab Emirates’ broader strategy to attract investments into the United States and enhance energy production. Following a meeting between US President Donald Trump and Sheikh Tahnoon bin Zayed Al Nahyan, UAE’s national security adviser, the UAE committed to investing up to $1.4 trillion in the US over the next decade. Recently, the Abu Dhabi wealth fund Mubadala Investment Company announced its acquisition of stakes in US natural gas production and export projects for the first time.

Over the past year, Adnoc has emerged as a prominent player in global deal-making, acquiring assets from various regions, including the US, Europe, and Africa. The firm is particularly focused on securing its first natural gas producing fields in the US as part of its expansion strategy.

In 2024, Adnoc made a significant move by purchasing a stake in NextDecade Corp.’s liquefied natural gas export project in Texas, marking its initial acquisition in the US alongside a 20-year supply agreement. This was followed by an investment in Exxon Mobil Corp.’s proposed hydrogen project, also located in Texas.

Aethon Energy, founded in 1990 by oil and gas investor Albert Huddleston, is one of the most active drillers in the Haynesville shale basin, which spans East Texas and northern Louisiana. The company is strategically positioned near several LNG export terminals along the Gulf Coast. In 2015, the Huddleston family partnered with RedBird Capital Partners to expand the business, with Ontario Teachers’ Pension Plan joining in 2016 to further enhance its capital availability.