ADNOC Gas Doubles Q3 Profit Amid Export Recovery
ADNOC Gas, the natural gas division of Abu Dhabi’s flagship energy firm, reported a remarkable turnaround in its quarterly earnings, more than doubling its net profit to $1.34 billion in the third quarter of 2026. This surge was driven by higher domestic gas sales and a rebound in liquefied natural gas (LNG) and sulfur exports.
Significant Earnings Growth and Dividend Increase
The company’s net income jumped from $665 million in the previous quarter as its core earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 70% to $2.03 billion. ADNOC Gas experienced a 20% increase in domestic gas sales over the quarter, supported by strong demand and improved profit margins. Domestic gas EBITDA climbed by 28%, while international product sales contributed to a 106% boost in EBITDA.
Sulfur sales also played a crucial role, with EBITDA soaring by 249% compared to the previous quarter. Reflecting the robust financial performance, ADNOC Gas approved a quarterly dividend of $940 million, a 5% rise compared to the same period last year, aligning with its strategy to increase dividends annually by 5% until 2030.
Strategic Expansion and Outlook Amid Regional Challenges
Despite ongoing disruptions in LNG exports through the Strait of Hormuz, ADNOC Gas remains optimistic about medium- to long-term growth prospects. The company recently finalized a supply contract to deliver up to 1.6 million tons of LNG to TotalEnergies over five years, underscoring its capability to forge strong international partnerships. CEO Fatema Al Nuaimi highlighted this deal as evidence of ADNOC’s competitive LNG business and commitment to shareholder value.
For the first nine months of 2026, the firm posted operational cash flow of $3.82 billion, comfortably covering dividends paid to shareholders. Following the strong quarterly results, ADNOC Gas upgraded its full-year profit forecast, anticipating net income to reach at least $4 billion.
Why ADNOC Gas’s Performance Matters for Pakistan
Pakistan’s energy sector relies heavily on stable gas supplies and imports to meet growing demand. ADNOC’s recovery signals increased availability of LNG, potentially easing regional energy shortages and contributing to more competitive pricing. Additionally, strategic LNG supply agreements involving ADNOC could influence energy trade dynamics, offering Pakistan potential opportunities for diversified gas sourcing. With energy security a critical issue in Pakistan, developments within major regional gas exporters like ADNOC carry significant implications for the country’s economic and industrial growth.
