Photo Credit: Adnoc
Dubai, UAE — August 2026 — ADNOC Gas plc announced its financial results for the second quarter of 2026 on Monday, posting net income of AED 2.44 billion ($665 million), surpassing the company’s guided range of AED 1.47 billion to AED 2.20 billion, despite what the company described as exceptional external disruptions during the period.
The company also made significant headway on its long-term growth strategy, taking two final investment decisions and awarding two engineering, procurement and construction contracts for phases two and three of its Rich Gas Development project.
ADNOC Gas CEO Fatema Al Nuaimi said the company had made tangible progress on its growth efforts, highlighting the decision to raise its targeted EBITDA growth to 60 percent by 2030, alongside the final investment decisions and contract awards for the Rich Gas Development project’s second and third phases.
She said these steps were accelerating one of the world’s largest gas processing growth programs and raising the ceiling of the company’s ambitions.
She added that these strategic investments would strengthen ADNOC Gas’s capacity to process and export natural gas, create sustainable value for shareholders, and cement the company’s position as a cornerstone of the UAE’s energy future, while also supporting the country’s energy security, industrial growth, and readiness to meet rising domestic and global demand for energy resources.
Al Nuaimi noted that the quarter’s net income exceeded announced guidance despite operational challenges, which she said underscored the strength of the business, its operational discipline, and the continued success of its ambitious growth strategy.
The two final investment decisions push ADNOC Gas’s targeted EBITDA growth to 60 percent by 2030, exceeding the company’s previously announced target of more than 40 percent growth between 2023 and 2029. The company said this update reflects confidence in its ability to deliver long-term value through a strong project portfolio and disciplined capital allocation approach.
ADNOC Gas also expects to invest up to AED 102.83 billion between 2026 and 2030 to meet its growth targets.
Broader growth program
ADNOC Gas is executing one of the sector’s largest gas growth programs, comprising four major projects: Ruwais LNG, Mirfa), Rich Gas Development, and Istidama. Together, these projects are expected to generate roughly AED 49.21 billion in additional local value, reinforcing the company’s role in the UAE’s industrial development and economic diversification.
The Mirfa/MIRAM project is expected to be completed during 2027, while Ruwais LNG and Istidama remain on schedule. This growth is also underpinned by continued investment across ADNOC’s gas value chain, including the recently announced gas cap development projects at the Bab and Umm Shaif fields, which are expected to provide additional natural gas and associated gas liquids supply.
AI and robotics expansion
ADNOC Gas said it continues to expand its use of artificial intelligence and advanced robotics across its operations, including drones, quadrupedal inspection robots, and tank-climbing crawler robots.
The company said these technologies have cut inspection costs by up to 75 percent and accelerated inspections by up to 15 times compared to traditional methods, while improving safety by reducing personnel exposure to high-risk environments.
Dividend announcement
Citing strong operating cash flows, ADNOC Gas’s board approved a quarterly dividend of AED 3.45 billion, payable in September 2026, in line with the company’s commitment to 5 percent annual dividend growth through 2030. The company continues to position itself as the largest dividend distributor on the Abu Dhabi Securities Exchange.
Security incidents and shipping disruptions
ADNOC Gas also addressed two security incidents at its Habshan complex on April 3 and April 8, saying it responded rapidly with personnel safety and minimizing customer supply disruptions as top priorities.
The company said it has completed a technical impact assessment and made faster-than-planned progress restoring operational capacity, recovering 85 percent of gas supply, exceeding the target it had previously announced in May.
Separately, the company said ongoing disruptions to shipping traffic through the Strait of Hormuz affected product transport during the second quarter.
In response, ADNOC Gas said it took proactive measures to manage inventory, logistics, and supply chains, working closely with customers and partners to mitigate the impact and meet its obligations as conditions allowed.
