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ADNOC Gas said in a statement that its net income reached $1.34 billion in the third quarter of 2026, equivalent to AED 4.92 billion and double the amount from the second quarter. The integrated gas producer reported that EBITDA increased 70 percent quarter-on-quarter to $2.03 billion on the back of higher domestic sales and a recovery in international volumes despite disruptions in the Strait of Hormuz. Domestic gas sales within the UAE rose 20 percent from the previous quarter with robust margins driving a 28 percent improvement in that segment’s EBITDA, according to the release. International product sales and sulfur operations also delivered sharp gains, lifting their respective EBITDA contributions by 106 percent and 249 percent.
Following the third-quarter results, ADNOC Gas raised its full-year 2026 net income guidance to at least $4 billion, or AED 14.69 billion. The company had previously provided a range of $3.5 billion to $4 billion for the year. This revision assumes fourth-quarter export levels will remain in line with those achieved between July and September, ADNOC Gas said in the statement. The outlook remains subject to regional maritime developments that the company continues to monitor closely.
Reuters reported on November 10 that ADNOC Gas is evaluating alternative delivery routes for customers as tensions continue to affect shipments through the Strait of Hormuz. Chief Executive Fatema Mohamed Al Nuaimi told reporters during an earnings call that assessments of different means to maintain supply have been under way for several months without a final decision. The company mitigated export impacts during the quarter through proactive management of inventory, logistics and supply chains in coordination with customers and partners.
ADNOC Gas’s board approved a quarterly dividend of $940 million, representing a 5 percent increase from the year-earlier payout and payable in December. The company generated $3.82 billion in operating cash flow during the first nine months of 2026, covering 1.3 times the $2.82 billion in dividends distributed over that period, according to the statement. ADNOC Gas maintains a target of 5 percent annual dividend growth through 2030 while pursuing an investment program of approximately $28 billion from 2026 to 2030 to expand its gas and LNG capacity.
A February 2026 company report placed ADNOC Gas’s full-year 2025 net income at a record $5.2 billion, up 3 percent from 2024 despite lower average oil prices. Domestic gas EBITDA grew 10 percent that year on a 4 percent increase in sales volumes and improved contract terms, the report showed. The company has taken final investment decisions on projects including the Ruwais Diyab unconventional gas development, which is expected to produce 345 million standard cubic feet per day starting in 2029 and support both domestic supply and LNG ambitions, according to an ADNOC announcement.
