ADNOC Gas posts $665M Q2 profit, beats guidance and lifts 2030 growth target to 60%
What's the deal? ADNOC GasDealroom has a profile for this one. Try Dealroom → reported net income of 2.44 billion dirhams ($665 million) for the second quarter of 2026, beating its guidance range of 1.47 billion to 2.20 billion dirhams ($400 million to $600 million). The Abu Dhabi-listed gas processing company said domestic demand drove the result.
Why now? The beat came despite what the company called exceptional external disruptions during the period. ADNOC Gas also restored 85% of gas supply from its Habshan complex, ahead of schedule.
What's the endgame? The company took final investment decisions on phases two and three of its Rich Gas Development project, lifting its targeted EBITDA growth to 60% by 2030 versus 2023 — up from a previous goal of more than 40% between 2023 and 2029. It expects to invest up to 102.83 billion dirhams ($28 billion) between 2026 and 2030 to hit its growth targets.
The two phases carry a combined 30.11 billion dirhams ($8.2 billion) in engineering, procurement, and construction contracts: a 14.32 billion dirham ($3.9 billion) award to Wison EngineeringDealroom has a profile for this one. Try Dealroom → for phase two, and a 15.79 billion dirham ($4.3 billion) award to TecnimontDealroom has a profile for this one. Try Dealroom → for phase three. Both build on the phase one contract announced in June 2025.
Phase two adds a new natural gas processing unit at the Habshan facility, while phase three builds a new gas liquids fractionation unit. Together they expand ADNOC Gas's capacity to process and export natural gas.
The numbers for shareholders: The board approved a quarterly dividend of 3.45 billion dirhams ($940 million) and reaffirmed its progressive dividend policy.
The signal: Chief executive officer Fatema Al Nuaimi said the moves accelerate "one of the largest gas processing growth programmes globally." The expansion positions ADNOC Gas to meet rising energy demand at home and abroad, tying the company's growth to the UAE's broader energy security ambitions.
Read more: PR Newswire
Image credit: ADNOC Gas
