Adnoc Gas, the Abu Dhabi firm responsible for managing most of the emirate’s gas processing and export facilities, has been having a stellar year. CFO Peter van Driel opened a 6 August media round table in a confident tone: “I think it’s obvious that with a $1.39bn net income for the quarter we’ve done pretty well.”

This is the firm’s highest ever quarterly profit since it was established in 2022 (MEES, 2 December 2022), and was up 16% year on year (see chart). Domestic demand was the primary driver of these gains, with net income from domestic gas sales rising 38% in Q2 compared to the same time last year. (CONTINUED - 929 WORDS)

Read this article for free

Gain access to over 60-years of energy analysis and news