UAE XRG plans to achieve annual natural gas production capacity by 2035 Target of reaching 20 to 25 million tons

UAE XRG plans to achieve annual natural gas production capacity by 2035 Target of reaching 20 to 25 million tons

According to reports from Reuters and the United Arab Emirates News Agency on June 3, the international investment division of Abu Dhabi National Oil Company (ADNOC), XRG, released a statement on Tuesday stating that its board of directors has approved expansion plans for three core platforms (international natural gas, global chemicals, and energy solutions), aiming to achieve an annual production capacity of 20 to 25 million tons of natural gas and liquefied natural gas business by 2035, and will support the evaluation of potential upstream natural gas mergers and acquisitions and LNG opportunities to consolidate its position in the North American natural gas market. In addition, the company's ambitious goal of building three global chemical platforms has been approved. It is reported that XRG was founded in 2024 and is an investment company focused on low-carbon energy, natural gas, and chemicals, with assets exceeding $80 billion. ADNOC's current investments in the United States are controlled by XRG, which will make significant investments in US natural gas in the coming months.