ADNOC Gas plc, the integrated gas processing and sales company under ADNOC Group, announced its financial results for the second quarter of 2025, reporting a record net income of $1.385 billion, a 16% increase year-on-year (YoY) and an 8% rise in EBITDA to $2.256 billion. This performance reflects the company’s continued operational excellence, robust local market demand, and strategic positioning in global energy markets, particularly through its Liquefied Natural Gas (LNG) exports.
The company’s strong quarterly performance was driven by resilient local market sales under long-term contracts with competitive pricing, alongside additional sales volumes in both domestic and export markets. Despite minor declines in revenue which fell 2% YoY to $5.96 billion, ADNOC Gas maintained solid profitability through effective cost controls and improved margins. The cost of goods sold dropped 8% YoY to $3.205 billion, while operating expenses remained stable, reflecting enhanced operational efficiency.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, highlighted the significance of this performance, calling it the highest quarterly net income in the company’s history. “Fuelled by our strong local market business and improved operational efficiency, this performance shows that we are well on our way to achieving our ambition of over 40% EBITDA growth between 2023 and 2029,” she said. “With healthy cashflows and robust margins, we remain well-positioned for long-term growth, and our resilient business model continues to deliver strong returns.”
In line with its strong earnings and commitment to shareholder returns, the Board of Directors approved an interim dividend of $1.792 billion, marking a 5% increase over the previous year. The dividend is scheduled to be paid on September 3, 2025, with August 13 set as the entitlement date and August 15 as the record date.
The first half of 2025 also witnessed a notable 49% increase in capital expenditure compared to the same period last year, reflecting ADNOC Gas’ aggressive investment strategy. A major milestone was the $5 billion Final Investment Decision on the first phase of the Rich Gas Development (RGD) project, pushing total committed Capex to $20 billion. ADNOC Gas also made considerable progress on other strategic projects, including the Integrated Gas Development Expansion – Phase 2 (IGDE-2), and Maximizing Ethane Recovery and Monetization (MERAM). Decisions on the remaining phases of the RGD project are expected in the near term.
The company is simultaneously advancing the Ruwais LNG project, which is poised to bolster ADNOC Gas’ position in the global LNG market, a segment it identifies as a key growth pillar. These initiatives are expected to diversify the company’s product portfolio, create new revenue streams, and enhance margins.
The market has responded positively to ADNOC Gas’ performance and outlook. Following its inclusion in the MSCI Emerging Markets Index in June 2025, the company saw capital inflows of approximately $500 million. With expectations high for its upcoming inclusion in the FTSE Index in September 2025, market analysts anticipate an additional $200 million in inflows, further elevating ADNOC Gas’ global investment profile and boosting market liquidity.
Continuing its digital transformation, ADNOC Gas introduced MEERAi, a specialized AI agent designed to assist its leadership team. Unveiled at the most recent Board of Directors meeting, MEERAi delivers real-time data driven insights, enabling faster and more informed decision-making at the highest level of corporate governance.
Despite a slight decline in revenue compared to Q2 2024 and Q1 2025, ADNOC Gas demonstrated strong profitability metrics. The EBITDA margin improved to 37.9%, up 352 basis points from Q2 2024, and the net income margin rose to 23.2%, a 366 basis point increase. Year-to-date comparisons also reflected solid growth, with EBITDA up 6% and net income increasing by 12% compared to the first half of 2024.
With ambitious growth targets, a solid dividend policy, and a strategic focus on both local and international markets, ADNOC Gas is positioning itself as a global leader in the gas sector. The company’s performance in the second quarter of 2025 reinforces its financial resilience and operational strength, underscoring its role in the UAE’s energy transition and economic diversification agenda.
