Company’s board of directors "Xrg" It meets in New York and reviews its investment strategy
New York, September 29/ WAM/ The XRG board, the leading international investment company in the energy sector launched by ADNOC in November 2024, held meetings in New York, during which he reviewed the progress in implementing its ambitious investment strategy, and its five -year business plan.
This is the first meeting of the “XRG” board of directors outside the UAE, and it was held at the headquarters of the “Blackstone” company in the Manhattan neighborhood in New York City, during which it was seen on the developments of the international company’s business in the field of gas.
The council continued the company’s efforts to consolidate its growing presence in the United States of America, including its acquisition of a 11.7% stake in the first phase of the “Rio Grande” project for liquidation, which is one of the most ambitious projects in the field of infrastructure for exporting natural gas in the United States, which is witnessing continuous progress in the construction of the first, second and third liqueflying units, in addition to making the “final investment decision” in The fourth liquefaction unit. As for the work of “XRG” in the field of energy solutions, the council reviewed the development plan and the developments of progress made in the “Pay Town” project for hydrogen and low -carbon ammonia in cooperation with “Exxon Mobil” in Texas, which “XRG” has a 35% stake in it.
The Council also reviewed the company’s plans to invest in the energy sector infrastructure projects in the United States with the aim of contributing to meeting the increasing demand resulting from digital transformation and the growth of artificial intelligence data centers.
The Council reviewed the “XRG” plans to achieve international growth in the chemical sector, including the establishment of the “Borouj International Group” and the proposed acquisition of “Cofisro”.
On this occasion, His Excellency Dr. Sultan bin Ahmed Al -Jaber, Minister of Industry and Advanced Technology, Managing Director and CEO of ADNOC and its group of companies, Chairman of the Executive Board of Directors of “XRG” is “in line with the vision of the wise leadership and its directives to enhance international cooperation to provide energy solutions and supplies to ensure keeping pace with the future and supporting global growth. Strategic through a responsible and disciplined investment approach that aims to seize glory opportunities that contribute to creating and enhancing long -term value through various fields and stages of the energy sector.
He added that “XRG” continues to enhance the positive progress it has achieved and consolidate its position in the economically feasible markets that provide a supportive environment for investment in line with the company’s focus on taking advantage of the opportunities and capabilities of growth in all the energy sector, including the American market and through cooperation with partners in the government and private sectors, we will continue to enhance the leading position of the company and its contribution to efforts to build a future energy system that supports growth Sustainable economist.
The United States of America contributes to an important role in formulating the global energy scene, in light of the domestic demand for gas in its flexibility with the support of the strength of industrial activity and the rapid expansion of data centers.
As the largest exporter of liquefied natural gas in the world, it is expected that the United States of America will maintain strong growth in the exports of this vital resource, to contribute about 30% of its global supply until 2050.
“XRG” has strengthened its efforts to build an integrated and geographical international business portfolio in the gas field, through four successful deals within the African and Asian markets, and recently announced the implementation of two important deals for chemicals that will contribute to enhancing their position to become among the three largest international investors in this field.
During the meeting, the council also reviewed the company’s ongoing efforts to establish its headquarters in strategic markets, including the recently opened offices in the American capital, Washington, Baku in Azerbaijan, Mapoto in Mozambique, and the love of Abad in Turkmenistan.
It is worth noting that the growth of the global presence of “XRG” confirms its long -term commitment to the societies that practice their work and activities in it.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
