ADNOC Gas reports 665 million dollar second quarter net income
ADNOC Gas posted 665 million dollars in second quarter net income while approving a 940 million dollar dividend and making final investment decisions
ADNOC Gas plc and its subsidiaries reported a second quarter net income of $665 million in 2026, surpassing the expected range of $400-600 million. This achievement occurred despite significant external disruptions, showcasing the company's robust performance. The company has set ambitious growth targets, aiming for a 60% EBITDA growth by 2030, up from 40% projected from 2023 to 2029.
To support this growth, ADNOC Gas recently awarded $8.2 billion in engineering, procurement, and construction (EPC) contracts for Phases 2 and 3 of the Rich Gas Development (RGD) Project. These contracts, awarded to Wison Engineering and Tecnimont respectively, will enhance processing capacity and operational efficiency. This strategic investment positions ADNOC Gas as a key player in the UAE's energy future and contributes significantly to the nation's industrial growth and energy security.
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