XRG, the international investment arm of ADNOC, acquired a 11.7% stake in Phase 1 of NextDecade Corporation’s Rio Grande LNG project in Texas. The LNG development project aims to produce less carbon-intensive LNG and boost American LNG exports. XRG is investing alongside US partners NextDecade and Blackrock. As part of the agreement ADNOC and NextDecade have entered into a 20-year LNG agreement for 1.9 million tons per annum from the Rio Grande LNG line.
Why This Matters
XRG’s investment in the Rio Grande LNG project is part of its larger investment focus in the US, which is aimed at accelerating the energy transformation. Targeted US investments will help create secure and reliable energy systems that are equipped to meet the energy needs of AI and data centers.
XRG is also a key driver of the UAE’s $440 billion in investments across the US energy sector over the next 10 years.
"Together with Next Decade, BlackRock and the rest of the partners in Rio Grande LNG, we are looking forward to contributing to one of the world’s most ambitious LNG export projects as it proceeds from construction to operation, helping to meet growing global energy demand.” – XRG