• Strategy to meet rising global demand for lower-carbon energy and chemicals required to power sustainable economic growth
  • XRG aims to capitalize on three megatrends: transformation of energy, exponential growth of AI, and the rise of emerging economies.
  • Ambitious growth strategy aims to more than double asset value within the next decade
  • Accelerates ADNOC’s international expansion, building on proven expertise, robust network of global partners and strategic market access

Abu Dhabi, UAE – Following the Board’s strategic endorsement, ADNOC today announced the launch of XRG, a groundbreaking international lower-carbon energy and chemicals investment company, with an enterprise value of over $80 billion.

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. Building on ADNOC’s expertise and transformational international acquisitions, the independently operated investment company will initially focus on developing three core strategic value platforms:

  • XRG’s Global Chemicals platform aims to be a top 5 global chemicals player, producing and delivering chemical and specialty products essential for modern life, to meet the projected 70% increase in global demand by 2050.
  • XRG’s International Gas platform will build a world-scale integrated gas portfolio to help meet the anticipated 15% increase in global natural gas demand over the next decade, as a lower carbon transition fuel, as well as meet the expected 65% increase in demand for LNG by 2050.
  • XRG’s Low Carbon Energies platform will invest in the solutions needed to meet increasing demand for low carbon energies and decarbonization technologies to drive economic growth through the energy transition. The market for low carbon ammonia alone is expected to grow by between 70-90 million tonnes per annum by 2040, from close to zero now.

Dr Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO, said: “In line with our Board mandate to prioritize transformational growth, XRG marks a bold new chapter for ADNOC. Building on our unrivalled 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. We are committed to delivering long-term value for our stakeholders and reinforcing Abu Dhabi and the UAE’s role as a global energy and chemicals leader.’’

XRG will formally commence activities in Q1 2025. A global strategy day will be held in 2025.

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Notes: XRG is short for Exergy, it means the maximum useful energy, or the potential of energy.

About XRG

XRG is an international low-carbon energy and chemicals investment company, headquartered in Abu Dhabi. Wholly owned by ADNOC, XRG has an enterprise value of over $80 billion and an ambition to double its value by 2035. Its portfolio includes interests in industry-leading companies that are meeting rapidly increasing global demand for lower carbon energy and the chemicals that are essential building blocks for products central to modern life.

To find out more, visit: www.XRG.ae

For media inquiries, please contact: media@XRG.ae

About ADNOC

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification.

To find out more, visit: www.adnoc.ae

For media inquiries, please contact: media@adnoc.ae