ADNOC’s XRG Expands Stake in $31.8 Billion Texas LNG Project

XRG, a subsidiary of Abu Dhabi National Oil Company (ADNOC), has expanded its investment in the $31.8 billion Rio Grande LNG project in Texas, strengthening its presence in the U.S. liquefied natural gas market. Building on its first strategic U.S. investment in May 2024, XRG previously acquired an 11.7% stake in Phase 1 of the project from Global Infrastructure Partners (GIP), covering trains 1, 2 and 3. XRG is now moving to acquire an additional 7.6% stake in trains 4 and 5 from a GIP acquisition vehicle, further deepening its involvement in the project at the Port of Brownsville. The expansion supports ADNOC’s strategy to grow its lower-carbon LNG portfolio to meet rising global gas demand. As part of the deal, ADNOC Trading also signed a 20-year LNG offtake agreement for 1.9 million tons per annum from Train 4, reinforcing long-term supply commitments.