ADNOC Gas Considers East Coast LNG Facility Amid Strait Disruption

ADNOC Gas is considering building a new liquefied natural gas (LNG) export facility on the UAE's east coast, according to Chief Financial Officer Peter van Driel. This potential project comes as the company assesses its future export infrastructure in light of recent disruption to maritime routes through the Strait of Hormuz.

The consideration for an east coast LNG plant is due to the disruptions that affected ADNOC Gas's product liftings during the second quarter, which prompted the company to work with customers and partners to mitigate the impact. Maritime disruption has also been incorporated into the company's near-term financial outlook, with expectations of third-quarter net income of $600 million to $800 million, based on an assumption that maritime routes continue to face disruption.

On a separate note, ADNOC Gas reported that recovery at its Habshan complex has progressed faster than expected following security-related incidents in April. The company has already restored 85% of gas supply, surpassing the year-end recovery target set in May.