XRG, Adnoc’s global energy investment arm, has increased its stake by 7.6 per cent in the Rio Grande liquefied natural gas project in the US as the Abu Dhabi company builds its portfolio.
The expanded shareholding in two LNG trains in Texas strengthens XRG’s position in the global LNG market and heightens its exposure to one of the world’s largest export facilities, the Abu Dhabi-based company said in a statement on Monday.
XRG said it is acquiring the stake in Trains 4 and 5 from an acquisition vehicle of Global Infrastructure Partners (GIP), which is a part of global asset manager BlackRock.
Financial details of the transaction were not disclosed.
Trains 4 and 5 each have an expected LNG production capacity of approximately six million tonnes a year. Each train has secured long-term LNG agreements with high-credit-quality offtakers, XRG said.
The investment builds on XRG’s initial 11.7 per cent stake in the project’s first three trains, in September last year. The project provides more than 5,000 construction jobs and approximately 700 long-term jobs in the Rio Grande Valley, according to XRG.
“By growing our presence in US LNG, we are strengthening a resilient, globally scaled gas platform while further deepening the UAE – US energy partnership – supporting energy security, jobs, and investment driven growth,” Mohamed Al Aryani, president of XRG’s International Gas business, said.
The deal, initially announced in 2024, marks XRG’s first natural gas investment in the US. And the latest transaction advances the company’s strategy to build a top-tier global gas portfolio and expand its presence in North America, XRG said.
“Expanding our investment in Rio Grande LNG reinforces XRG’s commitment to delivering on our global gas strategy and advancing the vital role LNG plays in providing reliable and flexible energy supply to international markets. The project continues to progress well, with strong construction momentum marking steady steps towards bringing new LNG capacity online,” Mr Al Aryani said.
Rio Grande LNG is one of the most ambitious LNG export infrastructure projects in the US, with about 48 million tonnes a year of potential liquefaction capacity under construction or in development.
XRG, a global investment company with an enterprise value of more than $150 billion, was launched in November 2024 as an international lower-carbon energy and chemicals investment company.
It is focused on scalable energy solutions to help support artificial intelligence and industry.
The company has been expanding its operations globally and plans to double its asset value over the next decade, capitalising on energy transition, AI advances and the rise of emerging economies.
