The damage inflicted on the United Arab Emirates' largest natural gas plant by an Iranian attack last month will not be fully repaired until next year, highlighting the enduring impact of the Middle East conflict on Gulf energy infrastructure.
Adnoc Gas, the operator of the Habshan gas processing plant, stated in a release on Tuesday that the company is working to restore 80% of the facility's processing capacity by the end of 2026 and achieve full operational recovery by 2027.
The facility sustained damage in two separate incidents in early April, coinciding with an escalation in Iranian attacks on energy infrastructure belonging to U.S. allies in the region.
Operations at the plant were halted following both events, with debris from intercepted drones triggering multiple fires.
Adnoc Gas reported a first-quarter net profit of $1.079 billion, marking a 15% decline year-over-year. The company was unable to capitalize on rising average oil prices due to its inability to export liquefied natural gas in March.
Typically the region's third-largest LNG producer with annual exports of approximately 5 million tons, the UAE has seen the Strait of Hormuz become nearly impassable since the conflict escalated on February 28, following Iranian threats to shipping.
Vessel tracking data indicates that at least two Adnoc LNG carriers have transited the Strait of Hormuz over the past two weeks.
Qatar, the region's largest LNG producer, has also been unable to export liquefied natural gas due to Iran's control over the Strait of Hormuz. However, Qatar is currently attempting to ship some cargoes.
Comments