Improved domestic gas margins helped power Adnoc Gas to record Q4 and full year earnings, the firm announced this week. A 6% increase to $5bn in earnings for 2024 outstripped the more modest 2% increase in sales volumes to 3,616 trillion BTU (see table). Adnoc Gas exited the year strongly with record quarterly earnings of $1.38bn (see chart).
Adnoc Gas Net Income Tops $5bn For 2024
Having posted record earnings for 2024, Adnoc Gas is set to invest record sums in expanding its facilities this year. LNG exports are set to drop due to Q1 maintenance, while rapid electricity demand growth drives higher domestic sales.
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IN THIS ARTICLE
Tables
Adnoc Gas: Key Figures
Charts
Higher Domestic Gas Earnings Drive Record Quarterly Net Income* For Q4 ($mn)
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