ADNOC acquires 11.7% stake in NextDecade's Rio Grande LNG project in Texas, for lower-carbon LNG portfolio growth.
ADNOC, the main oil company of the United Arab Emirates, has made its first strategic investment in the US by acquiring an 11.7% stake in Phase 1 (Trains 1-3) of NextDecade Corporation's Rio Grande LNG export project in Texas. The deal is expected to produce less carbon-intensive LNG and includes a 20-year LNG offtake agreement. The acquisition is part of ADNOC's international growth strategy and aims to expand its lower-carbon LNG portfolio to meet increasing gas demand.
May 20, 2024
7 Articles