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Abu Dhabi’s XRG buys 7.6% stake in Texas LNG project, boosting U.S.-UAE energy ties.
XRG, an Abu Dhabi National Oil Company investment arm, has acquired a 7.6% equity stake in Trains 4 and 5 of the Rio Grande LNG project in Texas from a BlackRock-owned Global Infrastructure Partners vehicle.
The move expands XRG’s involvement in the project, which is set to produce 6 million metric tons of LNG annually per train, with long-term contracts in place.
The expansion supports U.S.-UAE energy cooperation, adds to the project’s $13 billion Phase 2 funding, and is expected to generate over 5,000 construction and 700 permanent jobs.
The deal remains subject to regulatory approvals, with financial terms undisclosed.
El XRG de Abu Dhabi compra una participación del 7,6% en el proyecto de GNL de Texas, impulsando los lazos energéticos entre EE.UU. y los Emiratos Árabes Unidos.