ADNOC Gas and Fertiglobe Highlighted as Top MENA Energy Investments

Apr 12, 2026

56 min

Apr 12, 2026 10:31

ADNOC Gas, Fertiglobe named top picks in Bernstein’s MENA energy call

## Bernstein's MENA Energy Outlook

Bernstein has identified ADNOC Gas and Fertiglobe as leading investment opportunities in the MENA energy sector. The firm emphasizes the strong cashflow potential and sovereign support backing these UAE-listed companies.

## ADNOC Gas Prospects

ADNOC Gas has been given an "Outperform" rating with a price target of Dh4.08 per share, suggesting a potential 25% increase from current levels. The company is positioned as a key player in the UAE's strategy to achieve gas self-sufficiency by 2030, with stable earnings from domestic supply contracts and pre-sold LNG volumes.

## Fertiglobe's Strategic Role

Fertiglobe also received an "Outperform" rating, with a price target of Dh3.66 per share, indicating a possible 20% rise. As a low-cost nitrogen producer, Fertiglobe benefits from competitively priced gas feedstock and a diverse asset base. The company is also poised to capitalize on the growing demand for low-carbon ammonia.

## Sovereign-Led Energy Model

Bernstein's analysis highlights the UAE's sovereign-led energy model, which leverages state-owned assets to create investable platforms with predictable returns. This approach enhances earnings visibility across the energy sector, attracting international investors while maintaining strategic control.

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