ADNOC Gas has announced a 16% year-on-year increase in net income to $1.38bn (Dh5.07bn), the highest in the company’s history, and an 8% rise in earnings before interest, taxes, depreciation and amortisation (EBITDA) to $2.25bn in the second quarter of 2025 (Q2 2025).
The company’s product portfolio demonstrated strong performance, particularly in the local gas market, amidst oil price volatility.
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The Board of Directors has approved an interim dividend of $1.79bn, a 5% increase from the previous year, set for distribution in September.
The first half of 2025 (H1 2025) saw a 49% rise in capital expenditure (capex), driven by significant advancements in strategic initiatives such as the first phase of the $5bn Rich Gas Development (RGD) project.
In the short to mid-term outlook, the company anticipates completing the second phase of the Integrated Gas Development Expansion (IGDE-2), advancing the Maximising Ethane Recovery and Monetisation (MERAM) initiative and deciding on the investment for the final two stages of the RGD project.
ADNOC Gas is also focusing on other growth projects including the Ruwais LNG project, which is expected to capture a larger share of the liquefied natural gas (LNG) market.
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By GlobalDataThese initiatives are expected to bolster the company’s product portfolio, creating additional revenue streams and improving margins.
ADNOC Gas CEO Fatema Al Nuaimi said: “We are pleased to report the highest quarterly net income in ADNOC Gas’ history, fuelled by our strong local market business and improved operational efficiency.
“This performance shows that we are well on our way to achieving our ambition of over 40% EBITDA growth between 2023 and 2029, as outlined in our strategy update last November. With healthy cash flows and robust margins, we remain well-positioned for long-term growth, and our resilient business model continues to deliver strong returns.”
After being added to the Morgan Stanley Capital International (MSCI) Emerging Markets Index in June 2025, ADNOC Gas witnessed a significant influx of net capital, totalling around $500m.
The company is now poised to join the FTSE Index in September 2025, with market estimates projecting more than $200m in added inflows.
ADNOC Gas’ AI journey is also ongoing, with the implementation of MEERAi, an AI agent designed to provide real-time data-driven insights for the Board of Directors.
Furthermore, Hindustan Petroleum Corporation has entered a heads of agreement with an ADNOC Gas subsidiary, Abu Dhabi Gas Liquefaction Company, to procure 500,000 tonnes per annum of LNG over ten years.
