XRG, a subsidiary of Abu Dhabi National Oil Company (ADNOC), has completed the acquisition of an 11.7% stake in the first phase of the Rio Grande LNG project in Brownsville, Texas.
The move reinforces ADNOC’s ambition to expand its global presence in gas and LNG and comes at a time of rising demand for energy driven by industrial growth, artificial intelligence advancements, and broader economic expansion.
In a statement, the company said the partnership underlines its commitment to delivering reliable and sustainable energy to global markets.
“Together with NextDecade, 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 said.
The Rio Grande LNG project is among the largest LNG export developments under construction in the United States, and once operational, it is expected to play a pivotal role in strengthening U.S. energy exports and global supply security.
