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Sulphur 420 Sep-Oct 2025

19 September 2025

ADNOC Gas posts record profit

UNITED ARAB EMIRATES

ADNOC Gas posts record profit

ADNOC Gas PLC has reported $1.39 billion in net income for 2Q 2025, up 16% year on year and a quarterly record for the company. Last year, the gas processing and sales arm of Abu Dhabi National Oil Co. logged its highest annual net earnings – $5 billion – due to rising natural gas demand in the United Arab Emirates. In particular, revenue from ADNOC Gas’s sulphur sales more than doubled to $96 million from $43 million.

Earnings before interest, taxes, depreciation and amortization (EBITDA) for Q2 2025 totalled $2.26 billion. Domestic gas contributed $920 million, up 32% from Q2 2024, driven by better commercial terms and a higher sales volume. Export and traded liquids accounted for $982 million, down 10%. Sulphur EBITDA climbed to $81 million from $30 million, and is expected to generate a further $180-200 million net income for the full year.

Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “We are pleased to report the highest quarterly net income in ADNOC Gas’ history, fuelled 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.”

In the near and medium term, the Company expects to deliver the Integrated Gas Development Expansion – Phase 2 (IGDE-2), Maximizing Ethane Recovery and Monetization (MERAM), and to take the investment decision on the remaining two phases of the RGD project. Total investments are expected to be around $3 billion in 2025, representing a substantial increase against the prior year as the MERAM project reaches peak activity ahead of start-up.

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