ADNOC Gas Reports Record Second Quarter 2025 Results, Demonstrating Strong Resilience and Strategic Growth Momentum
ADNOC Gas plc and its subsidiaries (collectively referred to as “ADNOC Gas” or the “Company”), a leading integrated gas processing and sales company, today announced its financial results for the second quarter of 2025. The Company delivered record performance, underscoring its ability to thrive in a lower price environment while advancing major strategic growth initiatives that reinforce its role as a central pillar of the United Arab Emirates’ (UAE) energy sector.
Financial Highlights
In Q2 2025, ADNOC Gas reported net income of $1.385 billion, a 16% increase year-on-year (YoY), setting a new quarterly record in the Company’s history. Earnings before interest, tax, depreciation, and amortization (EBITDA) reached $2.256 billion, up 8% YoY, reflecting both operational excellence and a disciplined approach to capturing market opportunities.
The Company’s financial strength was further reflected in shareholder returns. The Board of Directors approved an interim dividend of $1.792 billion, representing a 5% YoY increase, with distribution scheduled for September 2025. This move underscores ADNOC Gas’ commitment to delivering sustainable, long-term value to investors while maintaining the financial flexibility needed to fund its ambitious growth plans.
Operational Performance and Market Resilience
ADNOC Gas continues to serve the UAE’s domestic energy needs through long-term contracts that ensure reliable supply at competitive prices. The second quarter results highlighted particularly strong performance in the local gas market, supported by robust demand and favorable pricing structures.
In addition to fulfilling domestic obligations, ADNOC Gas also capitalized on opportunities in the international market, particularly through the sale of Liquefied Natural Gas (LNG). LNG exports benefited from resilient demand in Asia and Europe, markets that continue to look toward natural gas as a lower-carbon alternative to coal and oil in the energy transition.
The performance reinforced the resilience of ADNOC Gas’ product portfolio against oil price volatility. By maintaining a diversified mix of revenue streams—including long-term domestic contracts, LNG exports, and value-added products—the Company demonstrated that it is well-positioned to navigate commodity market cycles.
CEO Commentary
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, commented on the results:
“We are pleased to report the highest quarterly net income in ADNOC Gas’ history, fueled 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 cashflows and robust margins, we remain well-positioned for long-term growth, and our resilient business model continues to deliver strong returns.”
Her remarks emphasized not only the record-breaking financial performance but also the strategic consistency that ADNOC Gas is applying across its operations, ensuring growth is both immediate and sustainable.
Capital Expenditure and Growth Projects
In the first half of 2025, ADNOC Gas significantly increased its capital expenditure (Capex), which rose by 49% YoY. This acceleration reflects the Company’s focus on delivering transformative projects that will underpin long-term earnings growth and capacity expansion.
Key initiatives include:
- Rich Gas Development (RGD) Project – Phase 1:
In early 2025, ADNOC Gas made a $5 billion Final Investment Decision (FID) on the first phase of its Rich Gas Development project. This brings the Company’s committed Capex to $20 billion, signaling its commitment to enhancing production and processing capacity to meet rising demand. - Integrated Gas Development Expansion – Phase 2 (IGDE-2):
This project will further strengthen ADNOC Gas’ ability to deliver secure and reliable gas supplies, ensuring energy security for the UAE while also supporting export opportunities. - Maximizing Ethane Recovery and Monetization (MERAM):
Aimed at increasing ethane extraction from natural gas streams, this initiative will create new high-value petrochemical feedstock streams, reinforcing ADNOC Gas’ contribution to the UAE’s downstream and industrial sectors. - Future Phases of the RGD Project:
Beyond the initial phase, ADNOC Gas plans to take investment decisions on the remaining two phases of RGD, expanding capacity further and enhancing its ability to meet both domestic and international gas demand.
LNG Expansion Strategy
ADNOC Gas views LNG as a cornerstone of its long-term portfolio strategy. The Company is making steady progress on the Ruwais LNG project, which will significantly expand capacity to serve the fast-growing global LNG market.
Demand for LNG continues to rise as countries seek flexible, lower-carbon alternatives to coal and as global utilities increase investments in energy security. ADNOC Gas is positioning itself to capture a larger share of this demand, leveraging the UAE’s abundant gas resources, advanced infrastructure, and strategic location between Asia and Europe.
By increasing its LNG footprint, ADNOC Gas expects to secure additional revenue streams and achieve improved margins, further reinforcing its balanced portfolio approach.
Capital Market Recognition
ADNOC Gas’ success extends beyond operations into global capital markets. Following its inclusion in the MSCI Emerging Markets Index in June 2025, the Company recorded a significant net capital inflow of approximately $500 million, demonstrating strong investor confidence and visibility on the global stage.
Looking ahead, ADNOC Gas is expected to be included in the FTSE Index in September 2025, with analysts projecting further capital inflows exceeding $200 million. Such inclusion will enhance the Company’s global investment profile, diversify its shareholder base, and boost liquidity and trading volumes on the Abu Dhabi Securities Exchange (ADX).
Innovation and Artificial Intelligence Integration
In addition to strong financial and operational performance, ADNOC Gas is advancing its digital transformation journey. A recent highlight was the introduction of MEERAi, an advanced artificial intelligence agent designed to support decision-making at the highest levels of governance.
Launched during the most recent Board of Directors meeting, MEERAi provides real-time, data-driven insights to accelerate and improve strategic decisions. It forms part of a broader suite of AI agents being deployed across ADNOC’s value chain, aimed at enhancing efficiency, optimizing operations, and reinforcing ADNOC Gas’ position as a forward-looking energy company.
