Story perspectives

ADNOC Gas Unveils $8B Expansion, $12B EBITDA Goal

8/10/2026

Summary

ADNOC Gas Expands

Adnoc Gas Plc announced over $8 billion to add a domestic gas-processing unit at Habshan and an export facility at Ruwais.
CFO Peter Van Driel said leaving OPEC reduces risk, prompting the company to lift its 2030 EBITDA target to over $12 billion.
The firm is evaluating an east-coast LNG export plant outside the Strait of Hormuz, which would be the region’s first LNG project to bypass the waterway.

Summary

ADNOC Gas Restores

ADNOC Gas board approved a $940 million dividend payable in September and pledged a 5 % annual increase through 2030.
On April 3, shrapnel from Iranian strikes sparked two fires at Habshan, killing one worker and injuring four.
Wison Engineering and Tecnimont secured contracts worth $3.9 billion and $4.3 billion respectively for Phase 2 and Phase 3 at Habshan and Ruwais.
ADNOC Gas completed its technical assessment and said gas supply was restored to 85 % of target.

History

Historical Context

In October 1973 OPEC members led by Saudi Arabia, Iran and Iraq imposed an oil embargo that raised crude prices from about $3 to $12 per barrel, creating state wealth. Two years earlier Abu Dhabi founded ADNOC with $2 billion of capital. Today ADNOC is spending $8 billion on the Habshan gas expansion and paying a $940 million dividend, showing the Gulf’s shift from crude to LNG projects.

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ADNOC Gas Expands

Adnoc Gas Plc announced over $8 billion to add a domestic gas-processing unit at Habshan and an export facility at Ruwais.
CFO Peter Van Driel said leaving OPEC reduces risk, prompting the company to lift its 2030 EBITDA target to over $12 billion.
The firm is evaluating an east-coast LNG export plant outside the Strait of Hormuz, which would be the region’s first LNG project to bypass the waterway.

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