ADNOC Rolls Out XRG: A $80+ Billion Investment Hub for Lower-Carbon Energy and Chemicals

ADNOC has officially unveiled XRG, a pioneering international investment entity valued at over US$ 80 billion, dedicated to advancing lower-carbon energy and chemicals. This new venture is strategically aligned with the rising global demand for sustainable energy solutions and chemicals essential to powering future economic growth. XRG is designed to leverage three transformative megatrends—energy transformation, the exponential rise of artificial intelligence (AI), and the ascent of emerging economies—to secure its position at the forefront of the global energy transition.

XRG is committed to an ambitious growth trajectory, aiming to more than double its asset base over the next decade. The company’s approach centres on three key strategic value platforms: Global Chemicals, International Gas, and Low Carbon Energies.

The Global Chemicals platform seeks to establish XRG as a top five global chemicals player, responding to the forecasted 70% surge in global chemical demand by 2050. This platform will focus on producing and distributing critical chemicals and specialty products that are indispensable to modern life and vital to meeting the world’s future needs.

Through its International Gas platform, XRG plans to develop a world-scale integrated gas portfolio to address the projected 15% increase in global natural gas demand over the next decade. As a pivotal transition fuel, natural gas will play a central role in the global energy shift. Additionally, XRG intends to support the anticipated 65% growth in liquefied natural gas (LNG) demand by 2050, helping to drive energy security while fostering the transition to cleaner energy sources.

The Low Carbon Energies platform will focus on investments in decarbonization technologies and low-carbon energy solutions. This platform is particularly positioned to meet the rapidly increasing global demand for low-carbon energy and contribute to the broader energy transition. The market for low-carbon ammonia, a key component of the decarbonization process, is expected to expand by between 70 and 90 million tonnes annually by 2040—an enormous leap from its current negligible levels.

Dr. Sultan bin Ahmed Al Jaber, ADNOC’s Minister of Industry and Advanced Technology, Managing Director, and Group CEO, underscored that the launch of XRG represents a pivotal move in ADNOC's strategy for transformational growth. Building on ADNOC’s deep expertise, strong global partnerships, and strategic market access, XRG is set to drive technological innovation, foster sustainable economic growth, and deliver essential energy solutions to improve lives worldwide. Al Jaber reaffirmed ADNOC's commitment to long-term stakeholder value, positioning Abu Dhabi and the UAE as leaders in global energy and chemicals.

XRG is set to officially commence operations in Q1 2025, with a global strategy day slated for the same year to outline its detailed roadmap and ambitious objectives.