ADNOC Gas sees significant revenue increase
ABU DHABI, March 30, 2023 – ADNOC Gas has posted an 32% increase in annual core earnings for 2022, the gas segment of Emirati NOC ADNOC announced on Thursday.
According to a bourse filing, the company adjusted its earnings in 2022 to USD 8.7 billion, up from USD 6.6 billion in 2021.
ADNOC established the gas entity in January 2023 and followed with an IPO valued at around USD 2 billion in February, which was raised from 4% to 5% at the end of the month.
ADNOC Gas has the capacity to produce around 283 mcm (10 bcf) of gas per day from eight processing sites and has a pipeline network of more than 3,250 kilometres.
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