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Adnoc Gas has awarded $8.2bn in engineering, procurement and construction contracts for Phases 2 and 3 of the Rich Gas Development project.
The funding comprises $3.9bn for Phase 2 to Wison Engineering, and $4.3bn for Phase 3 to Tecnimont. Phase 2 will add a new natural gas processing train at the Habshan facility, while the third phase features a new natural gas liquids fractionation train at Ruwais.
The project is designed as a major infrastructure mechanism to maximise feedstock value, scale up gas processing, and boost the nation’s LNG export capacity. It integrates directly into the development of the flagship facility, which is slated to enter operation in late 2028.
The investment underlines the UAE’s commitment to the gas industry for the medium-to-long term, complementing , amid ongoing challenges from the six-month Middle East war.
Industrial gas major Linde has expressed confidence in its ability despite ongoing tensions around the Strait of Hormuz, while Air Products said 40% of its helium volumes sold during Q3 in Beaumont, Texas. Air Liquide says the partial restart of helium production in Qatar is likely to on its business during the second half of 2026.
Gulf states are torn whether to allow Iran control over the strait or contest it and risk further escalation. A deal was reported but negotiations have stalled in recent days.
The UAE is planning and pipelines to reduce its exposure to the key waterway.
Confidence in the stability and reliability of the global helium supply chain appears to have stabilised during Q2 following the sharp deterioration observed in March. While concern remains elevated relative to historical norms, the market has largely stepped back from the heightened levels of disruption anxiety that characterised the immediate aftermath of geopolitical escalation in the Middle East.
The quarter reflects a market that continues to recognise geopolitical risk, yet increasingly believes that supply-chain resilience, near-term storage capabilities, and a hitherto more plentiful supply environment can mitigate the worst-case scenarios feared earlier in the year. Click to read the full Helium Outlook Q2 report.
