ADNOC Gas reported net income of $665 million for the second quarter of 2026, exceeding its previously stated guidance range despite disruptions to operations and product shipments during the period.
The Abu Dhabi-listed gas processor also took final investment decisions on the second and third phases of its Rich Gas Development project, awarding engineering, procurement and construction contracts worth a combined $8.2 billion.
The investments form part of a broader expansion program that ADNOC Gas now expects will increase EBITDA by around 60% by 2030 compared with 2023 levels. The company had previously targeted growth of more than 40% between 2023 and 2029.
ADNOC Gas said it expects to invest about $28 billion between 2026 and 2030 to support the revised target.
Under the latest Rich Gas Development awards, China's Wison Engineering received a $3.9 billion contract for Phase 2, which will add a natural gas processing train at the Habshan complex.
#ADNOC #development #expects
The Abu Dhabi-listed gas processor also took final investment decisions on the second and third phases of its Rich Gas Development project, awarding engineering, procurement and construction contracts worth a combined $8.2 billion.
The investments form part of a broader expansion program that ADNOC Gas now expects will increase EBITDA by around 60% by 2030 compared with 2023 levels. The company had previously targeted growth of more than 40% between 2023 and 2029.
ADNOC Gas said it expects to invest about $28 billion between 2026 and 2030 to support the revised target.
Under the latest Rich Gas Development awards, China's Wison Engineering received a $3.9 billion contract for Phase 2, which will add a natural gas processing train at the Habshan complex.
#ADNOC #development #expects
3 months ago
