11/08/2026 04:03 AST
Adnoc Gas delivered a net income of $665 million in the second quarter of 2026 despite damages to its Habshan facility in April. The gas processing company said on Monday that 85 per cent of its gas supply is restored, ahead of its planned schedule.
Adnoc Gas earlier said that immediately after the two incidents, which happened separately on different days, the complex's processing capacity was restored to 60 per cent, with aims to have it restored by 80 per cent by the end of the year.
"The Company has concluded its technical assessment of the impact from these incidents and recovery has progressed ahead of schedule, with gas supply already restored to 85 per cent, surpassing the year-end target set in May," it said in its Q2 results press release.
Adnoc Gas' targeted EBITDA grew to 60 per cent by 2030 versus 2023 - an upgrade from the previous target of more than 40 per cent over 2023-2029. Adnoc Gas said it expects to invest approximately $28 billion between 2026 and 2030 to deliver this growth ambition.
The company remains the largest dividend payer on the Abu Dhabi Securities Exchange (ADX), and recently approved a quarterly dividend of $940 million, payable in September 2026, in line with its commitment to deliver annual dividend growth of 5 per cent through 2030.
Four $13.4 billion megaprojects
Adnoc Gas is expanding its gas production with the construction of four megaprojects, including Ruwais LNG, Maximizing Ethane Recovery and Monetization (MERAM), Rich Gas Development (RGD) and Estidama. Together, these projects are expected to generate $13.4 billion in In-Country Value (ICV).
MERAM is expected to be delivered by 2027, while Ruwais LNG and Estidama both advancing as planned.
Other projects, like the recently announced Bab Gas Cap and Umm Shaif Gas Cap developments, are expected to further increase gas production, processing volumes, LNG exports and higher revenue streams.
Contracts to expand production
The gas processing company has awarded $8.2 billion in engineering, procurement, and constructions (EPC) contracts for Phases 2 and 3 of the RGD project- $3.9 billion for Phase 2, to Wison Engineering, and $4.3 billion for Phase 3, to Tecnimont. These contracts build on Phase 1, announced in June 2025, which is expanding key processing units to increase throughput and improve operational efficiency, across multiple gas assets.
Phase 2, to be delivered by Wison Engineering, will add a new natural gas processing train at the Habshan facility. Meanwhile, phase 3 will be delivered by Tecnimont and will add a new natural gas liquids (NGL) fractionation train at Ruwais, increasing the recovery of higher-value liquids from rich natural gas for export.
Together with the $5 billion committed to Phase 1, the new awards bring total investment in the RGD project to $13.2 billion. It will benefit from higher associated gas volumes as ADNOC progresses towards its production capacity ambitions.
Khaleej Times
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