Abu Dhabi National Oil Company (ADNOC) said on Wednesday that its six publicly listed subsidiaries will distribute 158 billion dirhams ($43.02 billion) in dividends by 2030.

The targeted amount is nearly double the 86 billion dirhams the six subsidiaries have cumulatively paid out in dividends since the first one - ADNOC Distribution - was listed via an initial public offering in 2017, ADNOC said.

ADNOC, which has raised billions of dollars by selling stakes in its subsidiaries, aims to have a top-three petrochemical business globally and a top-five gas business.

It set up international investment arm XRG last year to help to achieve those goals.

The state-owned group also announced that ADNOC Distribution, ADNOC Gas, and ADNOC Logistics & Services would join ADNOC Drilling in paying dividends on a quarterly basis, offering more frequent returns to investors.

ADNOC made the announcements at a presentation for investors in the listed subsidiaries, the first time the group has held such an event.

The group also announced that ADNOC Gas has signed a 20-year gas supply agreement with Ruwais LNG valued at 147 billion dirhams ($40 billion) to provide feedstock for the new LNG plant, expected to begin output in 2028 and more than double ADNOC's LNG capacity.

ADNOC also said that the merger of ADNOC and OMV petrochemical firms Borouge and Borealis, to create Borouge Group International, is on track to be completed by the first quarter of 2026, with some regulatory approvals obtained.

Financing from global banks for the deal, worth 56.6 billion dirhams, has been secured by ADNOC and OMV, including for the acquisition of Nova Chemicals.

The companies have identified annual benefits of 1.8 billion dirhams from the BGI deal, ADNOC said, adding that the new entity is set to become the world's fourth-largest polyolefins group.

($1 = 3.6729 UAE dirham)

(Reporting by Yousef Saba. Editing by Kirsten Donovan and Jane Merriman)