Adnoc Gas weighs Hormuz bypass as LNG cargoes increase

Net income doubled to $1.34 billion from prior quarter

The Wall Street Journal reported in a Nov. 10, 2026 update timestamped 2:38 am ET that Adnoc Gas was still evaluating a liquefied natural gas export facility on the country’s east coast at the Port of Fujairah, which sits on the Gulf of Oman outside the Strait of Hormuz, as a way to reduce the company’s reliance on the Strait of Hormuz. Chief Executive Officer Fatema Al Nuaimi said in an interview with The Wall Street Journal that the proposal is one of several options under consideration and that no decision has been made.

One option would place an LNG export facility on the country’s east coast at the Port of Fujairah, which sits on the Gulf of Oman outside the Strait of Hormuz. Adnoc Gas has considered the facility as a way to bypass the waterway for export shipments, but the project remains under review.

“At this stage, there are no decisions made on any of these projects,” Al Nuaimi said, adding that the projects remain under evaluation and study. Her statement leaves the Fujairah option and the company’s other alternatives without a decision.

Adnoc Gas is majority-owned by state-run Abu Dhabi National Oil Co. The Wall Street Journal reported that the company has been examining ways to reduce its reliance on the strait after Iran throttled the region’s oil and gas exports earlier this year by targeting tankers passing through the chokepoint with missiles and drones.

The potential facility on the country’s east coast at the Port of Fujairah, which sits on the Gulf of Oman outside the Strait of Hormuz, would provide an export route outside the strait, while Adnoc Gas continues to export LNG through the existing waterway. The company shipped more LNG through the strait in the third quarter than in the prior period. “It is a month-by-month improvement in the number of cargoes that are crossing the Strait of Hormuz,” finance chief Peter van Driel said in the same interview.

The improvement has not restored prewar shipments. Van Driel said shipments still were not at their prewar levels, even though the U.S. Navy was escorting ships transiting the waterway. The higher cargo count reflected month-to-month improvement rather than a return to prewar shipments.

Adnoc Gas also reported stronger third-quarter earnings. Net income doubled from the prior quarter to $1.34 billion. Higher volumes of high-margin LNG for export and stronger demand in the United Arab Emirates aided the result.

Adnoc Gas is thus reporting two simultaneous but incomplete changes: cargo crossings through Hormuz are rising gradually, while an export facility outside the strait remains under evaluation. Al Nuaimi said no decisions had been made, and van Driel said the higher traffic had yet to return shipments to prewar levels.