XRG Unveils Ambitious Five-Year Strategy to Transform Global Energy Landscape

XRG’s Vision for Growth

On June 3, 2025, XRG, the international energy investment platform launched by the Abu Dhabi National Oil Company (ADNOC) in November 2024, formally presented its five-year business plan for 2025–2030. This strategic initiative aims to bolster the company’s growth trajectory and long-term value creation in the rapidly evolving global market.

Since its inception, XRG has carved out a niche as a significant player in the energy sector, boasting an enterprise value exceeding $80 billion. The Board of Directors endorsed a plan focused on scaling three core areas: International Gas, Global Chemicals, and Energy Solutions.

Commitments to Global Gas and LNG

One of the primary directives from the Board is the establishment of XRG as a top five integrated global gas and liquefied natural gas (LNG) company. The target is ambitious, aiming for a capacity of 20–25 million tons per annum by 2035. This growth strategy includes assessing potential mergers and acquisitions in upstream gas and expanding LNG operations, particularly to strengthen XRG’s presence in the North American gas market.

Recent strategic partnerships and acquisitions in various regions, including the Rio Grande LNG project in the U.S., the Area 4 Rovuma Basin in Mozambique, and initiatives in Egypt, Azerbaijan, and Turkmenistan, have positioned XRG to meet the increasing global demand for flexible and lower-carbon energy solutions.

Building a Top Chemicals Platform

In addition to its gas ambitions, XRG is also set to create a leading global chemicals platform. Plans are in motion to form Borouge Group International and acquire Covestro, provided that regulatory approvals are secured. Together, these entities are positioned to deliver a robust portfolio across various chemical sectors, including polyolefins and performance materials, catering to the needs of future specialty markets.

Embracing AI and Low-Carbon Solutions

Recognizing the surging demand for AI-integrated energy solutions, particularly in the United States, XRG’s strategy incorporates a focus on advancing its Energy Solutions platform. The Board has emphasized the need to expand investments across the energy value chain, particularly in carbon capture, low-carbon hydrogen, and biofuels. This strategic direction seeks to align with investment opportunities that promise attractive returns, all while supporting the ongoing digital transformation within the industry.

Executing the Business Plan

XRG is set to implement its business plan immediately. The firm will maintain a focus on disciplined capital deployment, integration of its platforms, and value chain expansion. These efforts are geared toward supporting global industrial growth in an age where digital infrastructure and sustainability are becoming paramount.

Board of Directors: A Wealth of Experience

The governance of XRG is helmed by a diverse and experienced Board of Directors, led by His Excellency Dr. Sultan Ahmed Al Jaber. He is not only the Executive Chairman of XRG but also serves as the Managing Director and Group CEO of ADNOC. Dr. Al Jaber brings over 25 years of experience across various sectors, including energy, sustainability, and industry.

Other notable board members include:

• Mohamed Hassan Alsuwaidi: UAE Minister of Investment and CEO of ADQ, specializing in a wide array of sectors including utilities and infrastructure.
• Dr. Ahmed Mubarak Al Mazrouei: A pivotal figure in the UAE’s financial governance and Chairman of the President’s Office for Strategic Affairs.
• Jassem Al Zaabi: Chairman of the Abu Dhabi Department of Finance, contributing expertise across finance and investment.
• Jon Gray: President and COO of Blackstone, recognized globally for his leadership in alternative asset management.
• Nassef Sawiris: Executive Chair of OCI Global, with vast experience in investment and infrastructure.
• Bernard Looney: Former CEO of bp, bringing significant insights from traditional and renewable energy sectors.

About XRG

XRG is positioned as a transformative force in the international energy market, focusing on natural gas, chemicals, and scalable energy solutions to meet rising global demands. Headquartered in Abu Dhabi and fully owned by ADNOC, XRG’s broad portfolio encompasses significant operational and non-operational interests, ensuring alignment with sustainable economic growth initiatives worldwide.