ADNOC Launches $80+ Billion Global Investment Platform for Low-Carbon Energy and Chemicals
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- Global Expansion: XRG aims to more than double its $80B asset value within a decade, focusing on lower-carbon energy and chemicals.
- Strategic Focus: Capitalizes on three megatrends: energy transformation, AI growth, and emerging economies’ rise.
- Core Platforms: Targets leadership in global chemicals, natural gas, and low-carbon energy markets.
ADNOC has unveiled XRG, a transformational international investment company with an enterprise value exceeding $80 billion. The independently operated venture focuses on lower-carbon energy and chemicals, aiming to double its asset value in the next decade by addressing rising global demand and leveraging three megatrends: the energy transition, AI growth, and emerging market expansion.
“In line with our Board mandate to prioritize transformational growth, XRG marks a bold new chapter for ADNOC,“ said Dr. Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO. “We are committed to delivering long-term value for our stakeholders and reinforcing Abu Dhabi and the UAE’s role as a global energy and chemicals leader.”
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Core Strategic Platforms
- Global Chemicals:
XRG aims to become a top 5 global chemicals player, addressing the projected 70% increase in global demand for chemical and specialty products by 2050. These products are critical to modern life and sustainable economic growth. - International Gas:
Aiming to build a world-class gas portfolio, XRG will address the anticipated 15% increase in global natural gas demand over the next decade and meet the 65% rise in LNG demand by 2050, leveraging natural gas as a transition fuel. - Low Carbon Energies:
XRG will invest heavily in low-carbon solutions and decarbonization technologies, targeting markets like low-carbon ammonia, expected to grow by 70-90 million tonnes per annum by 2040.
Accelerating ADNOC’s Global Vision
XRG builds on ADNOC’s extensive expertise, global partnerships, and market access to scale its international footprint. The company’s strategy aligns with ADNOC’s broader goals of fostering sustainable economic growth and advancing technological innovation.
Dr. Al Jaber emphasized:
“XRG will drive sustainable economic growth, foster technological innovation, and deliver the energy and products needed to improve lives around the world.”
Looking Ahead
XRG positions itself as a cornerstone of ADNOC’s international growth strategy, reinforcing its commitment to decarbonization and innovation while maintaining leadership in global energy markets.
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