By: OrePulse

ADNOC Gas, the Abu Dhabi-based gas processing and sales company, reported third-quarter 2026 net income of $1.34 billion on Tuesday, more than double the $665 million it posted in the second quarter, as domestic and international sales strengthened, the company said.

Quarterly earnings before interest, tax, depreciation and amortization (EBITDA) climbed 70 percent quarter-on-quarter to $2.03 billion, according to the results, as sales volumes rose across the company's four main business lines: domestic gas, liquefied natural gas, export-traded liquids, and sulfur.

Domestic gas sales increased 20 percent quarter-on-quarter on steady local demand, lifting domestic gas EBITDA by 28 percent, the company said. International product sales added 106 percent to quarterly EBITDA, while sulfur sales EBITDA increased 249 percent in the third quarter.

ADNOC Gas's board of directors approved a $940 million quarterly dividend for payment in December 2026, a 5 percent increase from the dividend paid a year earlier, under a plan to lift the payout 5 percent each year until 2030, the company said. Operating cash flow for the first nine months of 2026 totaled $3.82 billion, covering the $2.82 billion paid out in dividends over the same period by a factor of 1.3, according to the results.

Citing the quarter's performance, ADNOC Gas raised its full-year 2026 net income guidance to at least $4 billion, up from its previous forecast.

The company said shifting regional maritime conditions, including continued disruption to shipping in the Strait of Hormuz, would keep shaping its outlook for liquefied natural gas exports, a challenge facing gas exporters across the wider region.

Even so, ADNOC Gas and TotalEnergies signed a five-year agreement last week under which ADNOC Gas will supply up to 1.6 million tons of liquefied natural gas to the French energy company, the companies said. ADNOC Gas Chief Executive Officer Fatema Al Nuaimi said the agreement reflected "the strength of our LNG business, the competitiveness of our supply offering," and the company's ability to build long-term partnerships that create value for shareholders.

The dividend increase and the raised earnings guidance follow a quarter in which all four of ADNOC Gas's business segments posted higher EBITDA than in the prior three months, with the sharpest gains coming from the company's international sales and sulfur export lines rather than its core domestic gas business.

ADNOC Gas is the gas processing and sales unit of Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates' state-owned energy company. The company's third-quarter results and the new TotalEnergies supply agreement were both announced within days of each other this month.