Full Breakdown
Abu Dhabi National Oil Company (ADNOC) Gas Explores New LNG Export Facility Amid Hormuz Disruptions
8/10/2026, 10:59:11 AM
Core Development: Potential LNG Plant Outside the Strait of Hormuz
Chief Financial Officer Peter van Driel told Bloomberg Television that ADNOC Gas is evaluating sites on the United Arab Emirates’ east coast for a liquefied natural gas (LNG) export plant that would bypass the contested Strait of Hormuz. The company has not committed to a final location or timeline. If built, the facility would be the first UAE LNG project designed to route shipments away from the waterway that has been repeatedly disrupted by the Iran-U.S.–Israel conflict.
Background & Context: Regional Shipping Threats and Infrastructure Shifts
Since the war began, Iran has launched missile and drone attacks on Gulf energy infrastructure and intermittently blocked maritime traffic through the Strait of Hormuz, a chokepoint that previously carried about one-fifth of the world’s oil and LNG. The attacks have damaged three ADNOC tankers in the past week, raising the cumulative toll on the company’s fleet to 15 vessels. Gulf exporters, including Saudi Arabia and Iraq, are also pursuing pipelines and ports that avoid the strait.
Data & Statistics: Financial Performance and Investment Plans
- Second-quarter profit: $665 million, a 52 % decline from $1.39 billion a year earlier, still above the $400-$600 million guidance range.
- Revenue: $3.11 billion, down more than 33 % from $4.65 billion a year prior.
- Habshan processing capacity: Restored to 85 % of pre-conflict levels, surpassing the year-end target set in May.
- Rich Gas Development project: Final investment decisions for Phases 2 and 3, awarding EPC contracts worth $8.2 billion (Phase 2: $3.9 billion to China’s Wison Engineering; Phase 3: $4.3 billion to Italy’s Tecnimont). Combined with the $5 billion Phase 1 commitment announced in June 2025, total project investment reaches $13.2 billion.
- Future capital plan: About $28 billion to be invested between 2026 and 2030.
- Earnings outlook: EBITDA is projected to rise roughly 60 % by 2030 versus 2023 levels.
Official Statements & Responses
- The company could not disclose further details at the time.
- Technical assessment: On August 10 the firm said the technical assessment of the Habshan incidents was complete and gas supply had already been restored to 85 % of capacity.
Conflicting Reports & Gaps
- Profit figure rounding: Reuters and Oilprice report net income as $665 million, while The National cites $664.65 million for the same quarter; the difference is due to rounding.
- Dividend details: A quarterly dividend of $940 million is payable in September, with a commitment to increase the annual dividend by 5 % each year through 2030, but no further payout dates were provided.
What’s Next: Upcoming Investments and Market Outlook
ADNOC Gas will proceed with the EPC contracts for Phases 2 and 3 of the Rich Gas Development project, expanding gas-processing capacity at Habshan and adding an NGL fractionation train at Ruwais. The firm expects to continue investing roughly $28 billion through 2030 to meet its revised EBITDA target and to diversify export routes away from the Strait of Hormuz. Ongoing regional security conditions will shape the timing and location of any new LNG export facility.
