However, quarter-on-quarter, the bottom line for JulySeptember 2026 is double that of the prior quarter, partly reflecting improved export liftings despite continued disruption in the Strait of Hormuz. Production has been reduced at Habshan due to damage sustained during three reported attacks over the area amid the United States and Israel’s war with Iran, including one in April in which ADNOC Gas PLC confirmed a fatality. Habshan hosts ADNOC Gas’ main processing operations. Five plants consisting of 14 processing trains with a combined capacity of 6.1 billion cubic feet a day produce gas, natural gas liquids, condensate and sulfur, according to the company.
“Restoration works at the damaged Habshan complex progressed in line with plan during the quarter. ADNOC Gas remains on track to restore full capacity by the second quarter of 2027,” ADNOC Gas said in filings Tuesday. Domestic gas sales fell 19 percent year-on-year to 513 trillion British thermal units (TBtu), “reflecting reduced reinjection gas and ethane offtake”, ADNOC Gas said. However, compared to the prior three-month period, domestic gas sales rose “due to strong seasonal demand that triggered higher margins.
“Export and Traded Liquids sales volumes were down 28 percent to 198 TBtu versus 273 TBtu a year earlier while significantly rebounded by 69 percent compared to 117 TBtu delivered in Q2 2026, mainly driven by improved shipping activities. “ADNOC Gas’s share of ALNG JV [in Das Island] volumes almost doubled quarter-on-quarter to 37 TBtu compared to 19 TBtu. “Brent crude prices averaged $96/bbl in Q3 2026, 40 percent higher than the $69/ bbl recorded in Q3 2025 as the disruption to shipping through the Strait of Hormuz tightened global supply. “JKM was 52 percent higher year-on-year, and LPG (propane and butane) benchmark prices rose 13 percent and 25 percent respectively, while naphtha prices were 33 percent higher year-on-year.”
