ADNOC Gas warned that problems with ships going through the Strait of Hormuz will affect how much money it makes in the second quarter. This is even though it did well in the quarter and still expects to grow in the long term.
The Abu Dhabi energy company made $1.1 billion in the quarter of 2026. This is 8 per cent less than the quarter. ADNOC Gas said this was because of problems in the region, tough market conditions, and issues with ships going through the Strait of Hormuz.
Fatema Al Nuaimi, CEO of ADNOC Gas, said the quarter was very challenging. The company focused on keeping employees safe, supplying energy at home, and protecting shareholder value.
The company said that ships not being able to go through the Strait of Hormuz caused problems. This strait is very important for oil and gas shipments. ADNOC Gas used its storage. Worked with customers to keep supplies going.
ADNOC Gas thinks that if ships can’t go through the Strait of Hormuz, it will make $400 million to $600 million less in the quarter. If prices for LNG and LPG go up in the second half of 2026, it might make up for lost shipments.
The company still expects to make between $3.5 billion and $4 billion in 2026. ADNOC Gas had $4.2 billion in cash. Made $572 million in free cash flow. It also approved a dividend payment of $941 million for June.
ADNOC Gas said it is still fixing problems at its Habshan gas processing complex. Two incidents happened there in April. The company said 60 per cent of its processing capacity is working again. It plans to have 80 per cent working by the end of 2026 and be fully operational by 2027.
With some units not working, ADNOC Gas said it can still supply gas at home. Growing demand and new projects will help the company grow in the long term. ADNOC Gas will focus on keeping employees safe and making sure it can supply energy. The company will also keep working to protect shareholder value.
