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ADNOC Gas plc
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ADNOC Gas commits $13.2bn to Rich Gas Development as 60% EBITDA target meets Hormuz risk
ADNOC Gas has approved the final two phases of its $13.2 billion Rich Gas Development programme, including new processing capacity at Habshan and NGL fractionation at Ruwais. The expansion lifts its 2030 EBITDA growth target to 60%, but a 52% quarterly profit decline has exposed how strongly export economics can still be disrupted by the Strait of Hormuz.