ADNOC Gas Invests $13.2 Billion in RGD Project to Boost EBITDA Growth

ADNOC Gas, a subsidiary of Abu Dhabi National Oil Company (ADNOC), has approved new investments to expand its natural gas processing capacity. The company will invest $13.2 billion in the Rich Gas Development (RGD) project, which includes phases 2 and 3. This investment is part of ADNOC Gas's strategy to increase gas processing capacity and utilize larger volumes of associated gas within the UAE's energy chain.

The approval of new investments has led ADNOC Gas to raise its long-term financial expectations. The company now aims to achieve an EBITDA growth of 60% by 2030 compared to 2023 levels, exceeding its previous target of a 40% increase between 2023 and 2029.

ADNOC Gas reported a net profit of $665 million during the second quarter of 2026, exceeding its own forecast range of $400 million to $600 million. The company also announced a quarterly dividend of $940 million, with payment scheduled for September 2026.