ADNOC Gas Delivers Resilient Q2 Net Income, Takes FID on Major Growth Projects

Delivers net income of $665 million driven by domestic gas demand
Final Investment Decisions on Rich Gas Development project to drive 60% EBITDA growth by 2030
Successfully accelerating Habshan recovery to 85%, ahead of schedule
Quarterly dividend of $940 million approved, with progressive dividend policy reaffirmed

ABU DHABI, UAE, Aug. 10, 2026 /PRNewswire/ -- ADNOC Gas plc and its subsidiaries (together referred to as "ADNOC Gas" or the "Company") (ADX: ADNOCGAS) (ISIN: AEE01195A234) today announced its results for the second quarter of 2026, delivering net income of $665 million, above the guidance range of $400-600 million, despite exceptional external disruption during the period. The Company achieved a significant milestone in executing its long-term growth strategy by taking Final Investment Decisions (FIDs) and awarding engineering, procurement and construction (EPC) contracts for Phases 2 and 3 of its Rich Gas Development (RGD) Project (collectively, the "Contract Awards").

Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: "This is a defining moment for ADNOC Gas. With the final investment decision and contract awards for the Rich Gas Development Project, we are not only accelerating one of the world's largest gas-processing growth programs – we are raising our ambition, targeting 60% EBITDA growth by 2030. These strategic investments will significantly expand our natural gas processing and export capacity, unlock lasting value for our shareholders, and position ADNOC Gas at the heart of the UAE's energy future. Beyond their economic impact, they safeguard the nation's energy security, power its industrial growth, and ensure we are ready to meet rising energy demand – at home and around the world.

At the same time, ADNOC Gas delivered resilient second-quarter net income above our guided range, despite a challenging operating environment, reflecting the strength of our business, the discipline of our execution, and the continued delivery of our long-term strategy."

These investment decisions raise ADNOC Gas' targeted EBITDA growth to 60%^[1] by 2030 versus 2023 – an upgrade from the previously communicated target of more than 40% over 2023-2029. The upgrade reflects the long-term value creation of the Company's project portfolio and its disciplined approach to capital allocation. ADNOC Gas now expects to invest approximately $28 billion between 2026 and 2030 to deliver this growth ambition.

ADNOC Gas has awarded $8.2 billion in EPC contracts for Phases 2 and 3 of the RGD project – $3.9 billion for Phase 2, to Wison Engineering, and $4.3 billion for Phase 3, to Tecnimont. These contracts build on Phase 1, announced in June 2025, which is expanding key processing units to increase throughput and improve operational efficiency, across multiple gas assets.

Phase 2, to be delivered by Wison Engineering, will add a new natural gas processing train at the Habshan facility, expanding ADNOC Gas' natural gas processing capacity, enhancing operational flexibility, and supporting the UAE's expanding downstream and petrochemical sectors. Phase 3, to be delivered by Tecnimont, will add a new natural gas liquids (NGL) fractionation train at Ruwais, increasing the recovery of higher-value liquids from rich natural gas for export, strengthening ADNOC Gas' global customer portfolio.

Together with the $5 billion committed to Phase 1, the new awards bring total investment in the RGD project to $13.2 billion. It will benefit from higher associated gas volumes as ADNOC progresses towards its production capacity ambitions.

Delivering one of the industry's largest gas growth programs

ADNOC Gas is executing one of the largest gas growth programs in the industry, spanning four megaprojects – Ruwais LNG, Maximizing Ethane Recovery and Monetization (MERAM), RGD and Estidama – which together are expected to generate $13.4 billion in In-Country Value (ICV), reinforcing the Company's contribution to the UAE's industrial development and economic diversification goals. The program continues to progress, with MERAM expected delivery in 2027 and Ruwais LNG and Estidama both advancing as planned. This growth is further underpinned by ADNOC's continued investment across the gas value chain – including the recently announced Bab Gas Cap and Umm Shaif Gas Cap developments – which will bring more natural gas and associated gas liquids into ADNOC Gas' integrated value chain, supporting additional feedstock, processing volumes, LNG exports and higher revenue streams.

Scaling AI and robotics across operations

ADNOC Gas is also scaling artificial intelligence and robotics – from aerial drones and four-legged inspection robots to tank-climbing crawlers – across its assets, with the potential to cut inspection costs by up to 75%, complete certain inspections up to 15 times faster and remove personnel from hazardous environments as it advances toward increasingly autonomous operations.

Results Overview

ADNOC Gas delivered net income of $665 million in Q2 2026 - above the upper end of the $400-600 million guidance range provided in the first quarter, reflecting strong operational performance in a challenging operating environment. This was supported by resilient margins in the domestic gas business.

Supported by its robust cash flow from operations, the Board has approved a quarterly dividend of $940 million, payable in September 2026, in line with the commitment to deliver annual dividend growth of 5% through 2030. ADNOC Gas remains the largest dividend payer on the ADX.

Habshan Complex Incidents

ADNOC Gas responded swiftly to the security-related incidents at the Habshan site on 3 and 8 April, prioritizing safety and minimizing disruptions to customers. The Company has concluded its technical assessment of the impact from these incidents and recovery has progressed ahead of schedule, with gas supply already restored to 85%, surpassing the year-end target set in May.

Q3 and Full-Year 2026 Outlook

Continued disruption to maritime movements through the Strait of Hormuz affected product liftings during the second quarter. Through proactive inventory, logistics and supply-chain management, ADNOC Gas worked closely with customers and partners to mitigate the impact of these disruptions, manage temporary constraints and fulfil commitments wherever possible.

For the third quarter, ADNOC Gas expects net income in the range of $600 to $800 million, based on the assumption that maritime routes through the Strait of Hormuz continue to be disrupted. Looking further ahead, if maritime operations are fully restored by the fourth quarter of 2026 and pricing realizations normalize, the Company expects full-year 2026 net income to range from $3.5 to $4 billion.

Cautionary note:

This announcement contains forward-looking statements concerning the financial condition, results of operations and businesses of ADNOC Gas. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties (including, but not limited to, disruptions to maritime routes (including the Strait of Hormuz), geopolitical developments, fluctuations in commodity prices and product realizations, operational risks including those related to the Habshan complex, and the timing and execution of major capital projects) that could cause actual results, performance, or events to differ materially from those expressed or implied in these statements. ADNOC Gas does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or other information. Results could differ materially from those stated, implied, or inferred from the forward-looking statements contained in this announcement. Readers should not place undue reliance on forward-looking statements.

About ADNOC Gas

ADNOC Gas, listed on the ADX (ADX: ADNOCGAS) (ISIN: AEE01195A234), is a world-class, large-scale integrated gas processing and sales company operating across the gas value chain, from receipt of feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers. ADNOC Gas supplies approximately 60% of the UAE's sales gas needs and supplies end-customers in over 20 countries. To find out more, visit: www.adnocgas.ae

(X) @ADNOCGas

For investor inquiries, please contact: 
Richard Griffith
Vice President, Investor Relations
+971 (2) 6037445
ir@adnocgas.ae 

For media inquiries, please contact: 
Paloma Berenguer
Vice President, Corporate Communications
+971 (2) 6037444
media.adg@adnoc.ae

[1] Based on a Brent crude oil price of $70 per barrel

 

** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **

ADNOC Gas Delivers Resilient Q2 Net Income, Takes FID on Major Growth Projects

Through AI platform tools such as CodeBuddy and WorkBuddy, Tencent Cloud is helping young people build their own "future teams", unlock their innovation potential, and seize opportunities in the AI era

HONG KONG, Aug. 10, 2026 /PRNewswire/ -- Tencent Cloud, the cloud business under Tencent, highlighted at the 8th Guangdong-Hong Kong-Macao Greater Bay Area Youth New Opportunities Forum, how artificial intelligence (AI) is helping cultivate a new generation of innovative talent, entrepreneurs and future leaders, supporting young people in seizing the Greater Bay Area's development advantages and exploring greater possibilities in the AI era.

Organized by the Institute of Accountants Exchange, the forum brought together leaders from government, business, academia and the professional sectors, together with young talent from across the Greater Bay Area, to explore future trends in the region, discuss directions for youth development, and work together to build a better future of innovation.

"AI is profoundly transforming how the next generation learns, creates and leads," said Freda Xu, Vice President of Marketing, Tencent Cloud and Smart Industries Group. "As AI agents and intelligent productivity tools mature, work that once required large teams or years of experience is becoming increasingly accessible. These tools free people from repetitive and time-consuming tasks so they can focus on higher-value work such as analysis, judgment and decision-making, while giving young people the opportunity to gain hands-on experience earlier in their careers. We believe AI is more than a tool for improving efficiency. It is also an important partner in driving innovation and nurturing future leaders. By harnessing AI technologies, young people can build their own 'future teams', unlock their creative potential, develop leadership and collaboration skills, and confidently embrace the new opportunities presented by the digital era."

AI Adoption Accelerates: From Individual Innovation to Organizational Empowerment

As AI moves from proof-of-concept to real-world application, AI-driven tools are breaking down traditional technical barriers at an unprecedented pace, freeing innovation from the constraints of professional background. Tencent Cloud's proprietary AI-assisted coding tool, CodeBuddy, is a case in point: originally built for engineers, it has since been adopted by more than 10,000 Tencent employees without a technical background, reflecting how AI is extending from professional coding into a far broader range of roles. This shift is significantly enhancing the practical capabilities of the younger generation. Even without deep programming expertise, young people can use AI to rapidly transform ideas into fully functional applications, helping them gain hands-on experience earlier in their careers, realize their innovative potential, and increasingly make AI an important partner in their personal and professional development.

Beyond coding, AI's impact on everyday office work is equally significant, helping talent move from individual efficiency gains to organization-wide value creation. Tencent Cloud's leading desktop AI agent, WorkBuddy, acts as a "digital colleague" — helping users handle time-consuming tasks such as research, data analysis and cross-platform operations, so they can focus on higher-value decision-making and significantly boost overall productivity.

This empowerment extends further to the organizational level. Through WorkBuddy, users can organize proven workflows and professional experience into dedicated 'Skills' and share them across a team. This not only improves team collaboration, but also turns individual professional know-how into a digital asset the organization can build on — helping companies retain institutional knowledge and pass on experience even as talent moves on.

This trend, where individual empowerment drives team-wide transformation, is also supported by market data. According to research firm Grand View Research, the global AI agent market is projected to grow from US$7.63 billion in 2025 to US$182.97 billion by 2033, at a compound annual growth rate (CAGR) of 49.6%. In China, adoption is expected to exceed 90% by 2030, underscoring how quickly the technology is being woven into business operations and everyday workflows, and positioning it as a key engine of industry innovation and productivity gains ahead.

Advancing AI Talent Development in the Greater Bay Area

Speaking at the forum, Xu described the opportunities available to Greater Bay Area youth today as an "exceptional set of advantages" for success. She noted that as global AI technology advances rapidly, young people in the Greater Bay Area also benefit from an internationally-connected legal and business environment, a globally-connected financial system, and a mature professional services ecosystem across the Asia-Pacific region — opening up greater room for growth.

She emphasized that amid the new landscape brought about by technological change, what truly matters is not the technology itself, but the ability to use it to create value. Capabilities such as international perspective, business acumen and strategic thinking, along with responsibility, collaboration and empathy, remain core strengths that AI cannot replace.

Meanwhile, Tencent Cloud continues to promote AI skills development among young talent across the Greater Bay Area through a diverse range of initiatives, including educational partnerships and developer programs, while encouraging young people to address social issues through technological innovation. This year, Tencent Cloud launched the Tencent Cloud Hackathon developer challenge series, featuring themes such as support for individuals with high-functioning autism, silver technology, and game creation. The competition encourages young people to leverage AI tools including CodeBuddy, WorkBuddy and Miora to express their creativity through games, animation and AI agents, while transforming innovative ideas into practical solutions with real-world impact.

The competition spans Chinese Mainland, Hong Kong and Macau SARs, as well as Southeast Asia, attracting more than 10,000 developers from around the world and generating over 1,000 innovative submissions. The strong participation highlights the younger generation's potential to harness AI to solve real-world challenges and drive innovation.

Among the participating regions, the Hong Kong and Macau Demo Day and judging event will be held on August 18 at Inno Space in Hong Kong. Winning teams from the Hong Kong and Macau region will advance to the Tencent Cloud Hackathon Global Grand Final, where they will exchange ideas and learn from fellow young innovators and technology talent from different regions, showcasing the Greater Bay Area's strengths in AI innovation and digital creativity.

As the Greater Bay Area continues to strengthen its position as a world-class innovation hub, Tencent Cloud will continue working with partners across education, the developer community, enterprises and society to help more young people seize opportunities in the AI era and make a greater impact on the global stage. At the same time, Tencent will continue investing in AI development and refining its AI ecosystem, leveraging core technologies such as the Tencent Hunyuan large model to provide developers and the next generation of innovative talent with more comprehensive models, platforms and infrastructure — jointly driving innovation and nurturing more outstanding talent.

About Tencent Cloud

Tencent Cloud is one of the world's fastest-growing cloud service providers, committed to delivering innovative solutions that address everyday life and business challenges, and empowering the digital transformation of smart industries. Tencent Cloud has always upheld its mission to meet the needs of every industry, leveraging cloud computing, Big Data analytics, AI, IoT and cybersecurity, together with its extensive global infrastructure, to provide businesses with stable, secure and industry-leading cloud products and services across a wide range of sectors, including education, finance, healthcare, gaming, media and entertainment, property, retail, travel and transportation.

** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **

Tencent Cloud Drives AI Adoption to Cultivate the Greater Bay Area's Next Generation of Digital Talent

Tencent Cloud Drives AI Adoption to Cultivate the Greater Bay Area's Next Generation of Digital Talent

Tencent Cloud Drives AI Adoption to Cultivate the Greater Bay Area's Next Generation of Digital Talent