Key facts
- ADNOC Gas reported third-quarter net income of $1.34 billion, double the $665 million of the second quarter.
- Core earnings, or EBITDA, rose 70% quarter on quarter to $2.03 billion.
- The board approved a quarterly dividend of $940 million, up 5% year on year and payable in December 2026.
- ADNOC Gas raised its full-year 2026 net income guidance to at least $4 billion.
- The company signed a deal to supply up to 1.6 million tons of LNG to TotalEnergies over five years.
- ADNOC Gas said its Strait of Hormuz LNG export outlook remains subject to regional maritime conditions.
ADNOC Gas, the gas arm of Abu Dhabi's national energy company ADNOC, reported net income of $1.34 billion for the third quarter, double the $665 million posted for the second quarter, according to its earnings release carried by Oilprice.com on November 10, 2026.
Core earnings, or EBITDA, rose 70% quarter on quarter to $2.03 billion. Domestic gas sales climbed 20% quarter on quarter, lifting domestic gas EBITDA by 28%. International product sales raised EBITDA by 106%, and sulfur EBITDA rose by 249% between July and September.
The board approved a quarterly dividend of $940 million, 5% higher year on year and payable in December 2026. The increase is in line with the company's target to raise the dividend by 5% annually through 2030. In the first nine months of the year, ADNOC Gas generated $3.82 billion of cash flow from operations, covering 1.3 times the $2.82 billion of dividends paid year to date.
ADNOC Gas raised its full-year 2026 net income guidance to at least $4 billion. The company said its outlook for LNG exports through the Strait of Hormuz remains subject to developments in regional maritime conditions, and that LNG flows through the strait remain severely disrupted.
ADNOC Gas signed a deal to supply up to 1.6 million tons of LNG to TotalEnergies over five years in the week before November 10, 2026. "This agreement reflects the strength of our LNG business, the competitiveness of our supply offering and our ability to secure long-term partnerships that support growth, enhance resilience and create lasting value for shareholders," CEO Fatema Al Nuaimi said.