News
XRG Board Endorses Five-Year Plan to Accelerate Global Growth and Deliver Long-Term Value
Abu Dhabi, UAE – June, 3, 2025
Key takeaways
- Board approves five-year business plan to scale international gas, chemicals, and energy solutions to meet growing demand, power global industry and AI growth
- Directs XRG to build a top five integrated global gas and LNG business with 20–25 mtpa capacity by 2035
- Supports assessment of upstream gas M&A and LNG expansion opportunities to strengthen North American gas position
- Board mandates creation of top three global chemicals platform anchored by Borouge Group International and Covestro
- XRG strategy includes investments in AI-linked power demand, energy infrastructure, and select low-carbon growth
Five Year Plan
The Board of Directors of XRG, the international energy investment platform launched by ADNOC in November 2024, today endorsed the company’s five-year business plan for 2025–2030, reaffirming its commitment to accelerated growth and long-term value creation.
In its first six months, XRG has established itself as a differentiated global energy investor with an enterprise value exceeding $80 billion. The Board endorsed the plan to scale XRG’s three core platforms – International Gas, Global Chemicals, and Energy Solutions.
In its first six months, XRG has established itself as a differentiated global energy investor with an enterprise value exceeding $80 billion. The Board endorsed the plan to scale XRG’s three core platforms – International Gas, Global Chemicals, and Energy Solutions.
“As we enter a new era shaped by artificial intelligence, digital infrastructure, and industrial growth, energy systems must evolve in both scale and sophistication. XRG is investing in the energy systems of the future – more integrated, more resilient, and responsive to global demand. With the Board’s endorsement of our five-year business plan, we are scaling platforms in gas, chemicals, and energy solutions to drive long-term value and ensure energy remains a catalyst for sustainable growth and development.”
Dr. Sultan Al Jaber
Executive Chairman of XRG
Managing Director and Group CEO of ADNOC
The Board directed XRG to build a top five integrated global gas and liquefied natural gas (LNG) business, targeting 20–25 million tons per annum of capacity by 2035 and supported the assessment of potential upstream gas M&A and LNG opportunities to strengthen its North American gas position. This follows recent acquisitions and partnerships in the United States (Rio Grande LNG), Mozambique (Area 4 Rovuma Basin), Egypt (Arcius Energy), Azerbaijan (Absheron), and Turkmenistan (Offshore Block I), enabling XRG to meet rising global demand for flexible, lower-carbon energy.
The Board also endorsed the company’s ambition to create a top three global chemicals platform. Subject to respective regulatory approvals, the proposed formation of Borouge Group International and the proposed acquisition of Covestro anchors an industry leading portfolio across polyolefins, performance materials, and future specialty segments.
Recognizing the exponential growth in AI-linked power demand, particularly in the United States, the Board directed XRG through its Energy Solutions platform to expand its investments across the energy value chain while continuing to develop select opportunities in carbon capture and storage and low-carbon fuels such as biofuels and low-carbon hydrogen that align with attractive return profiles.
XRG will execute on its 2025–2030 business plan immediately, with continued focus on disciplined capital deployment, platform integration, and value chain expansion to support global industrial growth and the ongoing digital transformation.
The Board also endorsed the company’s ambition to create a top three global chemicals platform. Subject to respective regulatory approvals, the proposed formation of Borouge Group International and the proposed acquisition of Covestro anchors an industry leading portfolio across polyolefins, performance materials, and future specialty segments.
Recognizing the exponential growth in AI-linked power demand, particularly in the United States, the Board directed XRG through its Energy Solutions platform to expand its investments across the energy value chain while continuing to develop select opportunities in carbon capture and storage and low-carbon fuels such as biofuels and low-carbon hydrogen that align with attractive return profiles.
XRG will execute on its 2025–2030 business plan immediately, with continued focus on disciplined capital deployment, platform integration, and value chain expansion to support global industrial growth and the ongoing digital transformation.
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