Five-year plan puts ADNOC’s XRG on path toward gas and LNG expansion

XRG, a wholly-owned subsidiary of the UAE’s Abu Dhabi National Oil Company (ADNOC), has received endorsement from its board of directors for its five-year business plan, pointing it in the direction of creating a top five integrated global gas and liquefied natural gas (LNG) business with 20–25 million tons per annum (mtpa) capacity by 2035.

XRG’s five-year business plan for 2025–2030 sets goals to scale international gas, chemicals, and energy solutions to meet growing demand, power global industry, and artificial intelligence (AI) growth after establishing itself as a differentiated global energy investor with an enterprise value exceeding $80 billion in its first six months.

As the board supported the assessment of potential upstream gas mergers and acquisitions (M&A) and LNG opportunities to strengthen the firm’s North American gas position, the company will step up its game across three core platforms, encompassing International Gas, Global Chemicals, and Energy Solutions. 

XRG’s board also backed the firm’s ambition to create a top three global chemicals platform. The company claims the proposed formation of Borouge Group International and the proposed acquisition of Covestro anchors an industry-leading portfolio across polyolefins, performance materials, and future specialty segments, subject to respective regulatory approvals.

Given the growth in AI-linked power demand, particularly in the United States, the firm has been directed to expand its investment through its Energy Solutions platform across the energy value chain while continuing to develop select opportunities in carbon capture and storage (CCS) and low-carbon fuels, such as biofuels and low-carbon hydrogen, which align with attractive return profiles.

Dr. Sultan Al Jaber, Executive Chairman of XRG, Managing Director, and Group CEO of ADNOC, commented: “As we enter a new era shaped by artificial intelligence, digital infrastructure, and industrial growth, energy systems must evolve in both scale and sophistication. XRG is investing in the energy systems of the future – more integrated, more resilient, and responsive to global demand.

“With the board’s endorsement of our five-year business plan, we are scaling platforms in gas, chemicals, and energy solutions to drive long-term value and ensure energy remains a catalyst for sustainable growth and development.”

The five-year plan comes after recent acquisitions and partnerships in the United States for Rio Grande LNG, Mozambique for Area 4 in Rovuma Basin, Egypt for Arcius Energy, Azerbaijan for Absheron, and Turkmenistan for offshore Block I, enabling XRG to meet rising global demand for lower-carbon energy.