103 Days
Source:
Sky News
XRG extends stake in Rio Grande Gas
XRG, a subsidiary of ADNOC, announced the completion of an additional stake acquisition in Units 4 and 5 of the Rio Grande Liquefied Natural Gas (LNG) project in Texas. This increases its ownership to 19.3% in the project, which is expected to reach an annual production of 30 million tons upon completion in the first half of 2027. This investment aims to strengthen the company's presence in the U.S. LNG market and support its global expansion strategy, securing long-term contracts and creating widespread employment opportunities. The United States is considered a strategic hub for XRG due to its abundant gas resources and high electricity demand, amidst a global drive to ensure energy security.
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