Abu Dhabi: The Board of Directors of XRG, an international energy investment platform launched by ADNOC in November 2024, has endorsed a comprehensive five-year business plan for 2025-2030. This plan reaffirms the company’s commitment to accelerated growth and the creation of long-term value.
According to Emirates News Agency, in its initial six months, XRG has positioned itself as a distinctive global energy investor, boasting an enterprise value exceeding $80 billion. The Board has approved the strategic expansion of XRG’s three core platforms: International Gas, Global Chemicals, and Energy Solutions.
Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, and Executive Chairman of XRG, emphasized the importance of evolving energy systems to meet global demand. He stated that XRG is focused on investing in future energy systems that are more integrated, resilient, and responsive. With the Board’s endorsement, XRG is set to scale its platforms in gas, chemicals, and energy solutions to drive long-term value and ensure energy continues to be a catalyst for sustainable growth.
The Board has directed XRG to develop a top five integrated global gas and LNG business, aiming for a capacity of 20-25 million tons per annum by 2035. This initiative will be supported by potential upstream gas mergers and acquisitions and LNG opportunities, particularly to strengthen XRG’s North American gas position. Recent strategic acquisitions and partnerships in the United States, Mozambique, Egypt, Azerbaijan, and Turkmenistan have positioned XRG to meet the rising global demand for flexible, lower-carbon energy.
In the chemicals sector, the Board has endorsed XRG’s ambition to create a top three global chemicals platform. Subject to regulatory approvals, the proposed formation of Borouge Group International and the acquisition of Covestro will establish a leading portfolio in polyolefins, performance materials, and future specialty segments.
As the demand for AI-linked power grows, especially in the United States, the Board has instructed XRG to expand its investments across the energy value chain through its Energy Solutions platform. This includes developing opportunities in carbon capture, storage, and low-carbon fuels like biofuels and low-carbon hydrogen that align with attractive return profiles.
XRG plans to execute its 2025-2030 business plan immediately, focusing on disciplined capital deployment, platform integration, and value chain expansion to support global industrial growth and the ongoing digital transformation.