ADNOC Gas Raises Full-Year Income Guidance to $4 Billion

ADNOC Gas revised its full-year net income guidance upward to at least $4 billion after reporting a strong third-quarter performance for 2026. The company's net income doubled from $665 million in the second quarter to $1.34 billion in the third quarter.

As part of a growth strategy to increase EBITDA by 60% between 2023 and 2030, the company committed $28 billion in capital expenditure. Current priorities include expanding overall capacity by 45% and constructing a new LNG export facility in the United Arab Emirates to more than double its export capacity. The company is also investigating the value proposition of a potential new LNG export terminal in Fujairah, though a final decision on ownership and execution remains pending.

To expand its global reach and ensure security of supply, the company is leveraging its LNG platform and partnerships with XG. These efforts primarily target Asian markets while maintaining long-term contracts with European customers. As part of this expansion, XG is taking a 16.67% stake in the North West Shelf LNG export project in Australia.