Abu Dhabi National Oil Company (ADNOC) will invest $6.2 billion in developing the gas cap of the major offshore Umm Shaif field as part of its strategy to increase natural gas production and liquefied natural gas (LNG) exports.

Disruptions to shipping in the Strait of Hormuz, through which about 20% of the global LNG trade typically passes, have accelerated the implementation of this project and once again highlighted the vulnerability of global energy supplies, CNBC reports.

Umm Shaif — Abu Dhabi’s oldest producing offshore field — is being developed jointly with TotalEnergies, Eni, and China National Petroleum Corporation (CNPC).

According to ADNOC, the field will enable production of more than 600 million standard cubic feet per day of natural gas and associated gas liquids, equivalent to nearly 10% of the UAE’s current daily gas consumption. Production is scheduled to begin in 2030.

These investments come as the UAE seeks to monetize its gas reserves while strengthening domestic energy security and its position in global LNG markets. The country has the world’s seventh-largest proven gas reserves, and oil production exceeds 4 million barrels per day.

Earlier this year, the UAE left OPEC, so it is no longer bound by production limits. Abu Dhabi expects to exceed output of 5 million barrels per day as early as next year.

“ADNOC is accelerating the implementation of its integrated gas strategy to more effectively develop the UAE’s abundant gas resources and expand its presence in the global LNG market amid growing demand for natural gas,” said ADNOC CEO Sultan Ahmed Al Jaber.