In a significant move to shape the future of global energy and chemicals, ADNOC announced on Wednesday the launch of XRG, an international investment company valued at over $80 billion.

According to a press release, XRG aims to more than double its asset value over the next decade by capitalizing on demand for low-carbon energy and chemicals driven by three megatrends: the transformation of energy, exponential growth of AI and the rise of emerging economies.

The company will commence operations in the first quarter of 2025.

Strategic Growth Platforms

The investment company will focus on developing three core strategic value platforms:

  • Global Chemicals: XRG seeks to become one of the top five global chemicals producers by 2050. The platform will focus on delivering critical chemical and specialty products to meet an anticipated 70 percent increase in global demand.
  • International Gas: Recognizing natural gas as a vital transitional fuel, the company plans to establish a world-scale integrated gas portfolio. This effort comes amid predictions of a 15 percent rise in global natural gas demand over the next decade and a 65 percent jump in liquefied natural gas demand by mid-century.
  • Low-Carbon Energies: The company will also invest in cutting-edge decarbonization technologies and low-carbon energy solutions, focusing on scaling markets like low-carbon ammonia, which are expected to grow significantly over the next two decades.

A Vision for Global Impact

Dr. Sultan Ahmed Al Jaber, ADNOC’s managing director and group CEO, framed XRG as a bold step forward in the UAE’s energy leadership.

“Building on our unrivaled track record in energy and investments, network of global partners, and strategic market access, XRG will drive sustainable economic growth, foster technological innovation, and deliver the energy and products needed to improve lives around the world,” he said.

Looking Ahead

The company’s objectives highlight the increasing interplay between traditional energy sectors and innovative, low-carbon solutions as the world navigates the challenges of climate change and sustainable development.

With an eye on doubling its asset value over the next decade, XRG is poised to be a major player in reimagining the future of energy and chemicals for a rapidly evolving global landscape.

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