Bloomberg News reports that Abu Dhabi's ADNOC is considering a bid for Aethon US natgas assets.

Bloomberg News, citing sources familiar with the situation, reported Friday that Abu Dhabi's state oil company ADNOC was considering a bid to acquire natural gas assets from investment firm Aethon Energy Management, which could be worth up to $9 billion.

ADNOC is acquiring a number of companies in the gas and chemical industries, which it sees as important pillars to its future growth.

The energy giant purchased a stake and a supply contract for 20 years in NextDecade’s liquefied gas export project located in Texas.

The report said that the US energy investment firm is still in the initial stages of its discussions and has not reached any final agreements.

In November, it was reported that Aethon had been exploring options to sell or offer its midstream and natural gas assets at a value of $10 billion.

Aethon's upstream assets, which are primarily focused on the Haynesville Shale Formation in Louisiana and East Texas constitute one of the biggest privately owned U.S. Gas producers.

ADNOC and Aethon didn't immediately respond to comments. (Reporting by Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber)

(source: Reuters)