ADNOC Gas Profit Rises to $1.34 Billion in Third Quarter

Core earnings, measured as EBITDA, rose 70% quarter-on-quarter to $2.03 billion. Domestic gas sales increased 20%, supported by resilient demand, while stronger margins lifted domestic gas EBITDA by 28%. EBITDA from international product sales climbed 106%; sulfur sales added support, with EBITDA up 249% between July and September.

The board approved a quarterly dividend of $940 million, 5% higher than a year earlier, payable in December 2026. The increase follows the company’s target of raising its dividend by 5% annually through 2030. In the first nine months of the year, ADNOC Gas generated $3.82 billion in operating cash flow, covering 1.3 times its $2.82 billion in year-to-date dividends.

The company said its outlook for LNG exports through the Strait of Hormuz remains dependent on regional maritime conditions. LNG flows through the strait are severely disrupted, challenging regional gas exporters. ADNOC Gas is pursuing business over the medium and long term and last week signed an agreement to supply TotalEnergies with up to 1.6 million tons of LNG over five years.

CEO Fatema Al Nuaimi said the agreement reflected the strength and competitiveness of ADNOC Gas’s LNG business and its ability to secure long-term partnerships that support growth, resilience and shareholder value.