The United Arab Emirates’ main gas-processing complex, one of the world’s largest, will not resume full capacity until next year, its operator has said, after it was targeted in the war, according to AFP.
ADNOC Gas has said the Habshan site in the capital Abu Dhabi, which supplies gas across the UAE, was operating at 60 per cent and “the company is currently working towards achieving 80pc restoration by the end of 2026, with full capacity restored in 2027”.
In a statement sharing its first quarter results, ADNOC Gas has reported $1.1 billion in net income, a 15pc decrease compared to the same quarter last year.
It has said the drop was caused by “increased regional uncertainty and difficult market conditions” as the energy sector faces major disruption due to Iran’s blockade of the Strait of Hormuz.
If the strait opens in the second half of 2026, the company expects its full-year net income to range from $3.5 billion to $4.0bn, compared to $5.2bn last year.
