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Adnoc Gas, the gas processing subsidiary of Abu Dhabi National Oil Company (Adnoc Group), has announced it is executing a capital expenditure (capex) budget of $28bn for 2026 to 2030, reaffirming the spending plan it previously committed to for the period.

As part of that capex plan, Adnoc Gas said it achieved final investment decision (FID) on the second and third phases of its Rich Gas Development (RGD) programme earlier this year.

The company awarded $8.2bn of engineering, procurement and construction (EPC) contracts for the second and third phases of the RGD programme. These relate to the construction of a new gas processing train at the Habshan complex and a natural gas liquids (NGL) fractionation train at the Ruwais gas processing facility, respectively.

MEED reported in March that Adnoc Gas had selected the main EPC contractors for both the Habshan 7 gas processing train and the Ruwais NGL Train 5 projects.

Adnoc Gas officially announced the award of EPC contracts for the two projects, saying it awarded China-based Wison Engineering a $3.9bn contract for RGD phase 2, while Italy’s Tecnimont was selected for the $4.3bn third phase.

Phase 2 will add a new natural gas processing train at the Habshan facility, “expanding Adnoc Gas’ natural gas processing capacity, enhancing operational flexibility, and supporting the UAE’s expanding downstream and petrochemical sectors”, the company said in a statement.

Phase 3 will add a new NGL fractionation train at Ruwais, “increasing the recovery of higher-value liquids from rich natural gas for export, strengthening Adnoc Gas’ global customer portfolio”, it said in its statement on 10 August.

Adnoc Gas also reiterated its $5bn capex for the first phase of the RGD scheme, which is under construction. The company awarded $5bn of engineering, procurement and construction management contracts in three tranches for phase 1 of the RGD in June last year, marking the company’s largest-ever capital investment.

With all three phases combined, Adnoc Gas has made a total investment of $13.2bn in the RGD programme.

“We continued investing through the cycle and advancing megaprojects that will define the next phase of Adnoc Gas’ growth, expanding our processing capacity and product volumes,” the company’s CEO, Fatema Al-Nuaimi, said.

“Together with Ruwais LNG and our wider portfolio of strategic projects, we are executing one of the industry’s most ambitious gas growth programmes,” she said.

Al-Nuaimi added: “These investments support our upgraded target of 60% [earnings before interest, taxes, depreciation and amortisation] Ebitda growth by 2030, which was previously 40%. Delivering that ambition will see us invest approximately $28bn between 2026 and 2030.

“We’re able to make these investments because we’re in a strong financial position. What matters here is this: we are reaffirming our dividend policy, we fund this growth programme and we deliver returns to shareholders. That is not an either/or,” she said.

Second-quarter financial results

Adnoc Gas detailed its capex plan as part of a media roundtable to discuss its financial results for the second quarter of the year (Q2 2026).

The company achieved net income of $665m in Q2 2026 – above the upper end of the $400m-$600m guidance range provided in the first quarter – “reflecting strong operational performance in a challenging operating environment. This was supported by resilient margins in the domestic gas business”.

Supported by its cash flow from operations, the company’s board has approved a quarterly dividend of $940m, payable in September, in line with its commitment to deliver annual dividend growth of 5% through 2030.

Adnoc Gas remains the largest dividend payer on the Abu Dhabi Securities Exchange (ADX), where it listed in March 2023.

Additionally, the company said: “Continued disruption to maritime movements through the Strait of Hormuz affected product liftings during the second quarter. Through proactive inventory, logistics and supply-chain management, Adnoc Gas worked closely with customers and partners to mitigate the impact of these disruptions, manage temporary constraints and fulfil commitments wherever possible.”

For Q3 2026, Adnoc Gas said it expects profit in the range of $600m to $800m, “based on the assumption that maritime routes through the Strait of Hormuz continue to be disrupted”.