Adnoc Bypasses Hormuz with New Gas Export Facility Plans
The UAE's Abu Dhabi National Oil Company (Adnoc) has announced plans to construct a new gas export facility in an effort to bypass the Strait of Hormuz. The company reported its income for the second quarter of 2026, beating forecasts with a net income of $665m.
Adnoc's intention to build a liquefied natural gas (LNG) export facility on the eastern coast of the UAE would allow it to move LNG out of the Persian Gulf without crossing Hormuz. This comes after Adnoc's ships have come under repeated attacks while transiting through Hormuz, with three vessels attacked by drones and missiles last week.
The new facility is contingent on exports being fully restored in the fourth quarter of 2026. The company's financial guidance for the rest of the year remains strong, despite the ongoing challenges posed by Hormuz.