XRG to increase stake in Rio Grande LNG
Published by Ellie Brosnan,
Editorial Assistant
Hydrocarbon Engineering,
XRG P.J.S.C. has announced that it will increase its stake in Rio Grande LNG, deepening its exposure to one of the world’s largest LNG export facilities, located in the Port of Brownsville, Texas, US. The transaction further strengthens XRG’s position in the global LNG market and marks an important milestone in the execution of its international gas strategy.
XRG will increase its overall participation in Rio Grande by acquiring additional 7.6% equity interests in Trains 4 and 5 of the Rio Grande LNG project from an acquisition vehicle of Global Infrastructure Partners (GIP), a part of BlackRock.
The transaction builds on XRG’s initial investment in Rio Grande LNG, through which the company acquired an indirect 11.7% stake in Phase 1 of the project (Trains 1 - 3), also through GIP. Additionally, as part of that transaction, ADNOC Trading entered into a 20-year LNG offtake agreement for 1.9 million tpy from Train 4.
Mohamed Al Aryani, President of XRG’s International Gas business, said: “Expanding our investment in Rio Grande LNG reinforces XRG’s commitment to delivering on our global gas strategy and advancing the vital role LNG plays in providing reliable and flexible energy supply to international markets. The project continues to progress well, with strong construction momentum marking steady steps toward bringing new LNG capacity online.”
“By growing our presence in US LNG, we are strengthening a resilient, globally scaled gas platform while further deepening the UAE-US energy partnership – supporting energy security, jobs, and investment driven growth.”
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/27012026/xrg-to-increase-stake-in-rio-grande-lng/
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