ADNOC Gas
ADNOC Gas PLC (ADX: ADC) is a publicly listed Abu Dhabi-based integrated gas processing and marketing company that supplies 60% of the UAE's gas needs and exports LNG to over 20 countries. Operations include the Shah Gas Plant and Ruwais LNG facility, expanding to 15 MMTPA by 2028.
- Company typePublic
- Founded1978
- HeadquartersAbu Dhabi, United Arab Emirates
- Headcount—
- GTM typeB2B
- OfferingServices
What ADNOC Gas does
ADNOC Gas PLC (ADX: ADC) is a publicly listed integrated gas processing and marketing company, headquartered in Abu Dhabi, United Arab Emirates, and operating as a subsidiary of ADNOC (Abu Dhabi National Oil Company), which is wholly owned by the Abu Dhabi Government. Originally established in 1978 as ADNOC Gas Processing, the company completed its IPO on the Abu Dhabi Securities Exchange in March 2023. ADNOC Gas supplies approximately 60% of the UAE's natural gas needs and exports LNG and gas products to over 20 countries. Its infrastructure includes the Shah Gas Plant (the world's largest ultra-sour gas operation at 1.28 bcf/day producing 4.2 million tons of sulphur annually), 11.5 bcf/day of aggregate gas processing capacity, and the Ruwais LNG facility — the first LNG export facility in the MENA region to run on clean power, with 9.6 mtpa capacity expanding to approximately 15 MMTPA by late 2028.
ADNOC Gas generates revenue through three primary streams: domestic gas processing and sales under government-administered tariffs (typically 15-27 year contracts with 80-90% take-or-pay), international LNG exports via long-term offtake agreements of 10-20 years with oil or hub-linked pricing, and NGL/condensate sales. The company deliberately reserves 20% of Ruwais LNG output for spot market exposure and has secured 83% of total Ruwais capacity within 16 months of FID through agreements with Shell, Indian Oil, INPEX, and Hindustan Petroleum. Customers include large UAE industrial buyers (e.g., Emsteel under a $4 billion, 20-year supply agreement) and international energy majors, served through a combination of direct enterprise sales, government-to-government partnerships, and an integrated global LNG marketing and trading platform launched in ADGM combining ADNOC Gas, XRG, and ADNOC Trading.
ADNOC Gas is in the midst of a major expansion phase with $28 billion of committed capex for 2026-2030, anchored by the $13.2 billion Rich Gas Development project and Ruwais LNG buildout, targeting 60% EBITDA growth by 2030 and a top 5 global LNG position by 2035. The company began quarterly dividend distributions in Q3 2025 with an inaugural $896 million payment and has committed to a 5% annual dividend increase through 2030. Following MSCI Emerging Markets Index inclusion in June 2025 and FTSE Index inclusion in September 2025, the company has paid over $20 billion in cumulative dividends to shareholders to date.
ADNOC Gas firmographics
Firmographics- Name
- ADNOC Gas
- Legal name
- ADNOC Gas PLC
- Website
- https://adnoc.ae
- Company type
- Public
- Founded year
- 1978
- Operating status
- Operating
- Short description
- ADNOC Gas PLC (ADX: ADC) is a publicly listed Abu Dhabi-based integrated gas processing and marketing company that supplies 60% of the UAE's gas needs and exports LNG to over 20 countries. Operations include the Shah Gas Plant and Ruwais LNG facility, expanding to 15 MMTPA by 2028.
- Ownership category
- akta.pro rank
ADNOC Gas industry classification
Industry- Product category
- Natural Gas Processing and LNG Production
- NAICS
- Natural Gas Distribution (22121), Natural Gas Distribution (2212), Industrial Gas Manufacturing (32512)
- SIC
- Natural Gas Transmisison & Distribution (4923), Natural Gas Distribution (4924), Natural Gas Transmission (4922)
- akta.pro primary industry
- LNG Liquefaction (Export Terminals) (EUAAACAE)
- akta.pro secondary industries
- LNG Import/Export Terminals & Storage (Regas, Peak Shaving, Small-Scale LNG) (EUALAEAD), Industrial CNG/LNG Supply & Distribution (Virtual Pipelines, Trucking, Satellite Storage) (EUALALAA), Gas-to-Power Project Development (IPP/CPP, Permitting, Financing) (EUALALAC), LNG Import/Export Terminals (Liquefied Natural Gas) (TLAHABAL)
Keywords
Where ADNOC Gas is headquartered
LocationHeadquarters
- HQ city
- Abu Dhabi
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices1 record
Markets served
ADNOC Gas business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D
Revenue model
- Gas Processing and Sales: ADNOC Gas generates revenue through processing and selling natural gas to domestic and international customers. Q2 2026 sales were $3,111.42 million with net income of $664.56 million. H1 2026 sales totaled $7,145.92 million with net income of $1,743.96 million.
- LNG Export: Revenue from LNG exports through long-term offtake agreements and spot market sales. The Ruwais LNG facility will produce 9.6 million tonnes per annum, with 83% already secured under long-term contracts including 15-year deals with Shell and Indian Oil. 20% of output is reserved for spot market.
- NGL and Natural Gasoline: Production and sale of natural gas liquids and condensate from gas processing operations including the Shah Gas Field operations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Long-term domestic gas supply agreements |
| Transaction based/ take rate | Multi-year contract | International LNG offtake agreements |
| Transaction based/ take rate | Pay-as-you-go | Spot LNG sales |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels4 records
ADNOC Gas product offering
Product offeringCore offering
ADNOC Gas processes, markets, and supplies natural gas, LNG, and natural gas liquids to domestic and international customers. The company operates world-class gas processing facilities with 11.5 bcf/day capacity, produces LNG from the Ruwais LNG facility (9.6 mtpa, expanding to 15 MMTPA by 2028), and operates the world's largest ultra-sour gas processing plant at Shah. It supplies 60% of the UAE's gas needs and exports LNG to 20+ countries.
Product overview
ADNOC Gas is a world-class integrated gas processing and marketing company, publicly listed on ADX in March 2023. The company operates as one of the world's largest integrated gas companies, supplying 60% of the UAE's gas needs and exporting LNG and gas products to over 20 countries. ADNOC Gas serves domestic customers across the UAE and international markets through long-term supply agreements and spot LNG sales. The portfolio includes gas processing, natural gas liquids fractionation, LNG export, and sour gas operations, with major growth projects including the Ruwais LNG facility (9.6 mtpa) and the Rich Gas Development project. The company produces over 11.5 billion cubic feet of natural gas per day and has significant LNG capacity expansion underway targeting approximately 15 million tons per year by 2028.
Differentiator
Problem solved
Functional benefit
Products and services
- Domestic Natural Gas Supply Long-term natural gas supply to UAE industrial, commercial, and power generation customers through the domestic pipeline network. Contract durations typically 15-27 years with take-or-pay obligations of 80-90% of contracted annual quantity and government-administered pricing.
- LNG Export Liquefied Natural Gas (LNG) exported from the Ruwais LNG facility to international customers in 20+ countries via long-term offtake agreements (10-20 years) and spot market sales. 83% of 9.6 mtpa capacity already secured under long-term contracts including 15-year deals with Shell and Indian Oil, with 20% reserved for spot market.
- Natural Gas Liquids (NGLs) Production and sale of natural gas liquids including ethane, propane, and butane from gas processing operations including the Shah Gas Field operations.
- Natural Gasoline and Condensate Production and sale of natural gasoline and condensate from gas processing operations.
Quantifiable outcome
- Targeting 60% EBITDA growth by 2030
- +3 more outcomes
Companies that use ADNOC Gas
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles2 records
ADNOC Gas technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
ADNOC Gas partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered major, core and strategic.
- Wison EngineeringmajorAwarded $3.9 billion portion of $8.2 billion EPC contract for Rich Gas Development project. Wison Engineering will build a new gas processing train at the Habshah facility for phase 2 of the project.
- Maire's TecnimontmajorAwarded $4.3 billion portion of $8.2 billion EPC contract for Rich Gas Development project. Tecnimont will construct the natural gas liquids fractionation unit at the Ruwais LNG complex for phase 3.
- INPEX Corporationcore15-year Sales and Purchase Agreement for supply of 1 million tonnes per annum of LNG from the Ruwais LNG project, signed July 2026.
- TotalEnergiescoreInternational partner in ADNOC's upstream gas development including the Umm Shaif Gas Cap ($6.2 billion FID in July 2026).
- EnicoreInternational partner in ADNOC's upstream gas development including the Umm Shaif Gas Cap ($6.2 billion FID in July 2026).
- China National Petroleum Corporation (CNPC)coreInternational partner in ADNOC's upstream gas development including the Umm Shaif Gas Cap ($6.2 billion FID in July 2026).
- Shellcore15-year LNG supply agreement for Ruwais LNG project. Shell is one of ADNOC's long-standing global energy partners.
- Indian Oilcore15-year LNG supply agreement for Ruwais LNG project. Major Indian energy company partnership under UAE-India energy cooperation.
- Mitsui & Co.strategicStrategic Collaboration Agreement (SCA) with ADNOC and XRG signed to unlock new growth opportunities across the energy value chain.
- XRGcoreADNOC's international investment subsidiary. Combined LNG marketing activities with ADNOC Gas under global LNG marketing and trading platform launched in ADGM.
- ADNOC TradingcoreTrading capabilities combined with ADNOC Gas and XRG under integrated global LNG marketing and trading platform.
Scale indicators13 records
Recent moves7 records
Expansion highlights6 records
ADNOC Gas competitors and assessment
Company assessmentBroad incumbents
- TotalEnergies: TotalEnergies is a global LNG major with major LNG positions in Qatar, the US, and Mozambique, and is a strategic partner in ADNOC's Umm Shaif Gas Cap development. Direct competitor in long-term LNG supply contracts.
- Saudi Aramco: Saudi Aramco is a state-owned integrated energy major with significant gas processing, NGL extraction, and LNG ambitions via its Aramco Trading and recent Jafurah unconventional gas development. It is the broader incumbent peer across integrated gas value chain.
- Eni SpA: Eni is a major European integrated energy company with significant LNG portfolio via Coral South FLNG (Mozambique), Plenitude, and US LNG offtake. It is both a strategic partner (Umm Shaif Gas Cap) and an LNG competitor for ADNOC Gas.
- Shell plc: Shell is one of the world's largest LNG traders and producers with global LNG portfolio across Qatar, Australia, and the US. It is both a 15-year offtake partner for Ruwais LNG and a competitor in international LNG marketing and trading.
- Equinor ASA: Equinor is a major state-backed integrated gas and LNG producer from Norway with global LNG marketing capabilities. It is comparable to ADNOC Gas in combining domestic gas obligations with international LNG export ambitions.
Direct peers
- Petronas (Petroliam Nasional Berhad): Petronas operates one of the world's largest integrated LNG businesses with Malaysia LNG and Canada LNG projects. It competes with ADNOC Gas across Asia-Pacific LNG markets and long-term supply contracts.
- Cheniere Energy: Cheniere is the largest US LNG exporter with Sabine Pass and Corpus Christi facilities and pioneered flexible LNG offtake structures. It competes directly with ADNOC Gas in serving European and Asian LNG buyers with long-term and spot market contracts.
- QatarEnergy: QatarEnergy is the world's largest LNG exporter with the North Field expansion targeting 126 mtpa by 2030. As a fellow MENA-based state-backed LNG producer, it is ADNOC Gas's most direct competitor for global LNG market share and long-term contracts.
Regional players
- Woodside Energy: Woodside is Australia's largest LNG producer (Pluto, North West Shelf, Browse) and a competitor in Asia-Pacific LNG markets where ADNOC Gas is actively growing its footprint. Comparable integrated gas-to-LNG value chain.
Emerging players
- INPEX Corporation: INPEX operates the Ichthys LNG project in Australia and is a 15-year Ruwais LNG offtake partner (1 mtpa). It competes with ADNOC Gas in supplying Asian LNG markets and offers a comparable integrated upstream-to-LNG profile.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
ADNOC Gas social profiles
Digital presenceADNOC Gas financial estimates
Financial estimateRevenue estimate
Valuation estimate
ADNOC Gas leadership team
Management profileNumber of profiles
Profiles12 records
ADNOC Gas funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ADNOC Gas M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ADNOC Gas
What does ADNOC Gas do?
ADNOC Gas processes, markets, and supplies natural gas, LNG, and natural gas liquids to domestic and international customers. The company operates world-class gas processing facilities with 11.5 bcf/day capacity, produces LNG from the Ruwais LNG facility (9.6 mtpa, expanding to 15 MMTPA by 2028), and operates the world's largest ultra-sour gas processing plant at Shah. It supplies 60% of the UAE's gas needs and exports LNG to 20+ countries.
Is ADNOC Gas a public or private company?
ADNOC Gas is a public company. It is classified as public and is currently operating.
When was ADNOC Gas founded?
ADNOC Gas was founded in 1978.
Where is ADNOC Gas based?
ADNOC Gas is headquartered in Abu Dhabi, United Arab Emirates, in the Middle East region.
How does ADNOC Gas make money?
Three revenue lines are on record. Gas Processing and Sales are the primary driver. The others are LNG Export and NGL and Natural Gasoline.
Who are ADNOC Gas's main competitors?
Broad incumbents on record are TotalEnergies, Saudi Aramco, Eni SpA, Shell plc and Equinor ASA. Direct peers are Petronas (Petroliam Nasional Berhad), Cheniere Energy and QatarEnergy. Woodside Energy is listed as a regional player. INPEX Corporation is listed as an emerging player.
Does ADNOC Gas have an API?
No public API is recorded for ADNOC Gas.
What industry is ADNOC Gas in?
ADNOC Gas's product category is Natural Gas Processing and LNG Production. Its primary akta.pro industry code is EUAAACAE, LNG Liquefaction (Export Terminals), with a secondary code of EUALAEAD, LNG Import/Export Terminals & Storage (Regas, Peak Shaving, Small-Scale LNG). Its NAICS code is 22121 and its SIC code is 4923.