On November 6th, according to the Financial Association (edited by Liu Jingyi), the international energy investment department XRG of the Abu Dhabi National Oil Company (ADNOC) in the UAE signed a preliminary agreement with YPF, the state-owned oil d

The non-binding framework agreement, signed at the Abu Dhabi International Petroleum and Gas Exhibition and Conference (Adipec), is a crucial move for XRG to build its global gas investment portfolio and expand its business presence in the Americas.

In the initial stage of the project, it is planned to achieve an annual LNG production capacity of 12 million tons through two floating natural gas liquefaction units (FLNG) with an annual production capacity of 6 million tons each.

XRG was established last year as an international low-carbon energy and chemical investment company spun off from ADNOC, with a corporate value exceeding $80 billion.

The company is currently actively expanding its global business and plans to double its asset value in the next ten years by seizing opportunities in energy transition, artificial intelligence, and the rise of emerging economies.

XRG's Global Expansion Blueprint

This Monday, XRG signed a non-binding agreement to acquire a stake in the Southern Gas Corridor Company (SGC) in Azerbaijan. The company stated that this investment will help its strategic layout in the Caspian Sea region and support the delivery of

In September this year, XRG also completed the acquisition of a 11.7% equity stake in the Rio Grande liquefied natural gas project Phase 1 in Texas, USA. The transaction, initially announced last year, is XRG's first natural gas investment in the Uni

The Rio Grande LNG project is one of the most anticipated LNG export infrastructure projects in the United States, with potential liquefaction capacity currently under construction or in development reaching approximately 48 million tons per year.

In addition, XRG has invested in the Ruwoma Basin Natural Gas Project in Mozambique, the No. 1 Natural Gas Block in Turkmenistan, Arcius Energy, an international natural gas company located in Egypt, and the Apshuleng Natural Gas Field in Azerbaijan.

A report by the International Energy Agency last month indicated that the demand for natural gas is expected to grow by approximately 1.5% to 1.7% per year from 2024 to 2030.

The report states that by 2030, an additional export capacity of approximately 300 billion cubic meters of liquefied natural gas will be added annually, mainly due to the expansion of liquefaction capacity in the United States and Qatar. It is expect