ADNOC launched XRG, an $80 billion low-carbon energy and chemicals platform. With a focus on chemicals, gas, and low-carbon fuels, XRG aims to double its portfolio value by 2035.
The Abu Dhabi National Oil Company (ADNOC) has unveiled XRG, a new investment platform focused on low-carbon energy and chemicals. Valued at $80 billion, XRG aims to more than double its portfolio by 2035, driven by energy transformation, artificial intelligence, and emerging economies.
XRG will develop three strategic platforms: Global Chemicals, International Gas, and Low Carbon Energies. The Global Chemicals platform aspires to become a top-five global player, addressing a projected 70% rise in chemical demand by 2050. The International Gas platform targets a 15% growth in global natural gas demand and a 65% increase in LNG demand by 2050, positioning natural gas as a lower-carbon transition fuel. Meanwhile, the Low Carbon Energies platform will focus on decarbonization technologies and low-carbon fuels, such as ammonia, which could see demand rise to 90 million tonnes annually by 2050.
“In line with our Board mandate to prioritize transformational growth, XRG marks a bold new chapter for ADNOC,” said Dr. Sultan Al Jaber, ADNOC Managing Director and Group CEO. He highlighted XRG’s potential to drive sustainable economic growth and technological innovation while delivering the energy and products needed globally.
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