ADNOC Gas

Adnoc Gas reported a second quarter net income of $665 million, successfully beating analyst estimates despite shipping disruptions caused by the Mideast conflict in the Strait of Hormuz. CFO Peter van Driel discussed these financial results with Abeer Abu Omar from Bloomberg.

Adnoc Gas Plc is considering constructing a new gas export facility outside the contested Strait of Hormuz. This initiative represents Abu Dhabi’s effort to build infrastructure, aiming to circumvent the critical waterway that was largely shut during the Iran war.

Gulf corporate profits reached a record $67.9 billion in Q1 2026, driven by Saudi Aramco's $32 billion and regional banks' $16.9 billion. However, the Iran war, which began on Feb. 28, disrupted operations, causing declines at ADNOC Gas and Industries Qatar. The full impact will be assessed in July with Q2 results amid the Strait of Hormuz closure.

ADNOC Gas is preparing to export LNG as soon as the Hormuz Strait reopens. The company's plans are contingent on the reopening of the strategic waterway. ADNOC Gas aims to capitalize on the anticipated increase in global demand for liquefied natural gas.