ADNOC Gas reported a second-quarter net income of $665 million. This figure exceeded the company's guidance range of $400 million to $600 million. Resilient domestic gas margins offset operational disruptions and export market challenges.
The board approved a $940 million quarterly dividend. This payout aligns with the company’s progressive dividend policy.
ADNOC Gas reached Final Investment Decisions for Phases 2 and 3 of its Rich Gas Development project. The company awarded $8.2 billion in engineering, procurement, and construction contracts for these phases.
These contracts form part of a broader $28 billion investment plan scheduled between 2026 and 2030. ADNOC Gas upgraded its long-term guidance following these investment decisions. The company now targets 60% EBITDA growth by 2030 relative to 2023 levels.