Major Natural Gas Producer ADNOC Gas Set to Enter FTSE Emerging Index, Anticipated to Attract Additional Investment of $250 Million

Adnoc Gas Achieves Profit Increase and Secures MSCI and FTSE Inclusion

Adnoc Gas, the Abu Dhabi National Oil Company's (Adnoc) gas subsidiary, has reported a 16% annual increase in its second-quarter profit, reaching $1.39 billion. This growth was achieved despite a lower oil price environment, demonstrating the company's resilience and commitment to creating long-term, sustainable value for its shareholders.

In a filing to the Abu Dhabi Securities Exchange, Fatema Al Nuaimi, the chief executive of Adnoc Gas, stated that the move will also boost liquidity in the ADX, broadening its institutional investor base. This expansion is part of Adnoc Gas's strategy to diversify its investor base and elevate its global investment profile.

Adnoc Gas has targeted institutions in Europe, India, China, and Southeast Asia to acquire assets, but specific institutions are not named in the available information. The company is planning strategic acquisitions, including the new Ruwais LNG plant from Adnoc and potential assets in the mentioned regions.

The inclusion of Adnoc Gas in the MSCI Emerging Markets Index, following Adnoc Distribution and Adnoc Drilling, reinforces the company's ambition to diversify its institutional investor base, enhance liquidity, and elevate its global investment profile. Adnoc Gas will be added to the FTSE Emerging Index later this month, further solidifying its position among international investors.

The FTSE Emerging Index measures the performance of large and mid-cap companies across advanced and secondary emerging markets within the FTSE Global Equity Index Series. It is widely tracked by international investors, providing Adnoc Gas with increased visibility and potential for growth.

Adnoc Gas aims to more than double its LNG output capacity by 2028 and has a planned capital expenditure of $20 billion. The company supplies approximately 60% of the UAE's gas sales needs and has access to 95% of the UAE's natural gas reserves.

The addition is expected to channel about $250 million in investment into Adnoc Gas' stock, and the company expects to deliver over 40% Ebitda growth by 2029 versus 2023. This growth is a testament to Adnoc Gas's strong fundamentals and consistent delivery on its strategy.