ADNOC Gas Exceeds Q2 Profit Expectations, Announces $940 Million Dividend

Aug 10, 2026

72 min

Aug 10, 2026 06:32

ADNOC Gas beats Q2 profit guidance, approves $940m dividend and lifts 2030 growth target

## Strong Q2 Performance

ADNOC Gas reported a second-quarter net income of $665 million, surpassing its guidance range of $400 million to $600 million. This achievement came despite challenges in operations and shipping, highlighting the company's robust domestic gas margins.

## Dividend and Future Projections

The company approved a quarterly dividend of $940 million, to be distributed in September. It also plans to increase annual dividends by 5% through 2030. For the third quarter, ADNOC Gas anticipates net income between $600 million and $800 million, assuming ongoing disruptions in the Strait of Hormuz.

## Long-term Growth Strategy

ADNOC Gas aims for a 60% EBITDA growth by 2030, supported by a $28 billion investment plan. This target is based on a Brent crude oil price of $70 per barrel. The company is advancing its Rich Gas Development Project, with significant investments in Phases 2 and 3, totaling $13.2 billion.

## Expansion Projects

Phase 2 will enhance natural gas processing at the Habshan facility, while Phase 3 will boost natural gas liquids fractionation at Ruwais. These expansions are part of a broader growth program, including projects like Ruwais LNG and MERAM, expected to generate substantial in-country value.

## Operational Resilience

Following security incidents in April, ADNOC Gas has restored 85% of its gas supply at the Habshan complex, ahead of schedule. The company is also leveraging technology, such as AI and robotics, to improve efficiency and safety, potentially reducing inspection costs significantly.

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