ADNOC Gas Q4 2025 net income decreases 15% to $1.2bn

Financial Performance - ADNOC Gas reported a net income of $1.17 billion for Q4 2025, a 15% decrease from $1.4 billion in Q4 2024 [1] - Revenue for Q4 2025 was $5.5 billion, down 10% from $6.1 billion in Q4 2024 [1] - The company achieved a full-year net income of $5.2 billion in 2025, a 3% increase compared to $5 billion in 2024 [2] - Total revenue for 2025 was $23.5 billion, a 4% decrease from $24.4 billion in 2024 [3] - EBITDA for the full year remained unchanged at $8.6 billion compared to 2024 [3] Operational Highlights - ADNOC Gas expanded its sales volumes by 5% in Q4 2025, driven by steady demand in the UAE [1] - Domestic adjusted EBITDA for the quarter increased by 6% year-on-year, supported by consistent activity in the UAE's industrial sector [2] Capital Expenditure and Investments - Capital expenditure reached $3.6 billion in 2025, advancing several major projects including phase one of the Rich Gas Development project [4] - The commissioning of Integrated Gas Development Expansion 2 in late 2025 facilitated progress on the ADNOC Estidama gas pipeline project [4] Strategic Outlook - ADNOC Gas aims to address domestic demand growth beyond 2026 through infrastructural investments such as the Estidama pipeline [5] - The company expects to make a final investment decision on phases two and three of the Rich Gas Development project in early 2026, targeting a 30% capacity expansion by 2029 [6] - In January 2026, ADNOC entered a ten-year agreement to supply liquefied natural gas to Hindustan Petroleum Corporation of India, valued between $2.5 billion and $3 billion [6]