ADNOC Gas Reports Impressive $1.1 Billion Q1 Profit Amid Challenges

In an impressive display of resilience, ADNOC Gas declared a net profit of $1.1 billion for the first quarter of 2026. This achievement showcases the company’s robust operational capabilities and stable financial standing, even as regional disturbances affected export activities.

Despite the challenges posed by disruptions in maritime transit through the Strait of Hormuz, ADNOC Gas efficiently met domestic demand throughout the UAE by effectively managing logistics, inventories, and supply chains.

CEO Fatema Al Nuaimi emphasized the company's commitment to safeguarding both employees and assets while ensuring a continuous supply of gas in the UAE. This was pivotal in preserving shareholder interests during a quarter impacted by various challenges.

ADNOC Gas achieved an impressive $572 million in free cash flow during Q1 2026 and concluded the quarter with $4.2 billion in cash reserves, underscoring its strong balance sheet and financial stability.

The Board has sanctioned a quarterly dividend of $941 million, set for distribution in June 2026, while reconfirming its pledge to a 5 percent annual dividend growth through to 2030.

The company reiterated its unwavering long-term growth strategy, targeting a remarkable increase in EBITDA by over 40 percent from 2023 to 2029.

ADNOC Gas maintains an optimistic outlook on the UAE’s economic trajectory, buoyed by escalating industrial activity and rising domestic energy needs. Notable future growth drivers include the $5 billion TA’ZIZ supply agreement and ADNOC’s expansive $55 billion investment in local manufacturing as part of the “Make it in the Emirates” initiative.

Recognized as the UAE's leading supplier of gas for electricity production and industrial applications, ADNOC Gas anticipates sustained demand from both domestic and industrial sectors.

During the reported quarter, ADNOC Gas also encountered two security incidents at its Habshan facility on April 3rd and 8th. The company’s operations teams acted swiftly to deploy safety protocols and continuity measures, effectively minimizing interruptions.

Rapid recovery efforts led to about 60 percent of the Habshan complex’s processing capabilities being restored in short order, with ambitions to escalate this to 80 percent by the conclusion of 2026. Full operational capacity is projected to return in 2027.

ADNOC Gas stated that a comprehensive technical review of the incidents is almost complete, as efforts continue amidst ongoing supply chain challenges.