Press releases, Reports & Disclosures for ADNOC Gas plc

The Board of Directors of ADNOC Gas Plc will pass a written resolution on 6 March 2024 at 6pm (UAE time) to consider and approve the company's audited annual financial statements for the financial year ended 31 December 2023. The circular resolution will be signed electronically. This was communicated in a letter from Dr. Ahmed Mohamed Alebri, the Chief Executive Officer of ADNOC Gas Plc, to the Abu Dhabi Securities Exchange and the Securities and Commodities Authority.

ADNOC Gas has reported a 24% year-on-year increase in Q4 2023 net income to $1.35 billion, exceeding market expectations. The company's full-year performance was robust, with revenues of $22.7 billion and net income of $4.7 billion. The board confirmed a full-year dividend of $3.25 billion, after an interim cash dividend of $1.625 billion. The company's free cash flow for FY 2023 was $4.5 billion, exceeding the annual dividend by 37%. The strong financial performance was driven by volume growth and a positive pricing environment. Q4 2023 revenue increased by 7% year-on-year to $6,301 million, and processed volumes rose to 912 Trillion British Thermal Unit (TBTU).

ADNOC GAS PLC (AG), formerly known as ADNOC GAS LTD., was established on 8th December 2022. The company's paid-up, subscribed and authorized capital is USD 19,187,855 thousand each. The Chairman of the Board is H.E. Dr. Sultan Ahmed Al Jaber and the CEO is Dr. Ahmed Mohamed Alebri. The company's external auditor is Deloitte & Touche (M.E.) LLP. The company is based in Sheikh Khalifa Energy Complex 1, Khalifa Street, P.O. Box 665, Abu Dhabi, United Arab Emirates.

The text appears to be the cover page for ADNOC GAS plc's Q4 and full-year financial results for the year 2023. The document, dated February 12, 2024, includes a management discussion and analysis report.

The Board of Directors of ADNOC Gas plc held a meeting on February 9, 2024, where they approved the company's unaudited annual financial statements for the financial year ending December 31, 2023. They proposed a cash dividend distribution of USD 1,625,102,948 (equivalent to AED 5,968,190,576 or approximately 7.776 fils per share) for the second half of the financial year ending December 31, 2023. This proposal will be considered by the shareholders in a general assembly meeting. The Board also invited the Company’s annual general assembly to convene on March 29, 2024. The Board discussed recent developments related to the company's activities and projects and updated the composition of the Company’s Board of Directors. The Board now comprises of H.E. Dr. Sultan Al Jaber as Chairperson, H.E. Kamal Al Maazmi, and Abdulmunim Al Kindy as members.

The Board of Directors of ADNOC Gas plc is set to hold a meeting on 9th February 2024 at 3 p.m. via video conference. The main points of discussion will be the company's unaudited annual financial statements for the financial year ended 31st December 2023, the proposal of the company's cash dividends distribution to the shareholders for the second half of the financial year ended 31st December 2023, the invitation to the company's annual general assembly to convene and determine its agenda and date, and general matters relating to the company's activities and projects. The document is signed by Dr. Ahmed Mohamed Alebri, Acting Chief Executive Officer of ADNOC Gas plc.

ADNOC Gas, a leading gas processing company, has signed a 10-year agreement to supply 0.5 million metric tons per annum of liquified natural gas (LNG) to GAIL India Limited, India’s top natural gas company. This deal strengthens ADNOC Gas' growing presence in the global, particularly Asian, LNG market and solidifies the relationship between the UAE and India. The agreement is in line with previous international LNG sales agreements, reinforcing ADNOC Gas' position as a preferred global export partner. The company continues to focus on investments that drive sustainable growth, in response to increasing global demand for natural gas.

The Board of Directors of ADNOC Gas plc held a meeting on 14th November 2023 via video conference. The Board has approved the company's financial results for the third quarter of 2023 and agreed to distribute interim cash dividends to the company's shareholders for the first half of the financial year 2023. The total amount of dividends is USD 1,625,102,948, equivalent to AED 5,968,190,576, or approximately 7.776 fils per share. The last entitlement date is 22nd November 2023, the ex-dividend date is 23rd November 2023, the shareholders' registry closing date is 24th November 2023, and the payment date is 14th December 2023.