THE MIDDLE EAST’S

11. ADNOC Gas
Country: U.A.E.
Sector: Energy
CEO: Fatema Al Nuaimi
Market Value: $66.2 billion
Sales: $19.1 billion
Profits: $5 billion
Assets: $30.8 billion
ADNOC Gas supplies about 60% of the U.A.E.’s sales gas needs and supplies end-customers in over 20 countries. In Q1 2025, it signed $9 billion in LNG supply agreements with Indian Oil Corporation and Japan’s JERA Global Markets. Locally, the company secured three enabling contracts worth $2.1 billion in January 2025 for an LNG pre-conditioning plant, compression facilities, and transmission pipelines to supply feedstock to the Ruwais LNG Project. ADNOC Gas was listed on ADX in 2023, raising $2.5 billion for 5% of its share capital. In February 2025, parent company ADNOC sold another 4%—about 3.1 billion shares—for $2.84 billion, cutting its stake to 86%.