ADNOC Gas, the UAE-based integrated gas processing and sales company, reported strong first-quarter results for 2025, with net income rising to $1.27 billion and EBITDA reaching $2.16 billion, marking increases of 7% and 4% respectively compared to Q1 2024.
What’s Driving the Growth?
The performance was underpinned by two main factors:
- Rising Domestic Demand: Strong economic growth in the UAE boosted gas consumption, lifting total sales volume.
- Improved Operational Efficiency: The company optimized its planned plant shutdowns, reducing downtime and increasing the amount of gas processed.
“This has been another outstanding quarterly performance by ADNOC Gas, supported by our resilient business model in a lower oil price market, which significantly exceeded market expectations,” said CEO Fatema Al Nuaimi.
She highlighted recent supply agreements and ongoing efficiency efforts as key contributors, adding, “Looking ahead, we will use the strength of our balance sheet to invest through the cycle as we seek to realize EBITDA growth of over 40% between 2023 and 2029.”
Major LNG Deals Signed
During the quarter, ADNOC Gas secured mid- to long-term LNG supply agreements worth approximately $9 billion with Indian Oil Corporation and JERA Global Markets of Japan. These deals expand the company’s international reach and support the shift toward lower-carbon energy.
Investing for the Future
Capital expenditure surged 43% year-on-year in Q1, reflecting ADNOC Gas’s commitment to long-term growth. A Final Investment Decision (FID) on its Rich Gas Development project is expected in 2025.
Market Visibility Set to Increase
Following a marketed offering of 3.1 billion shares, ADNOC Gas’s public float increased from 5% to 9%, paving the way for potential inclusion in MSCI and FTSE indices later this year.
