ABU DHABI: President His Highness Sheikh Mohamed bin Zayed Al Nahyan has officially endorsed the Board of Directors for XRG, an international energy investment company launched by ADNOC with an enterprise value exceeding $80 billion. This strategic move aims to drive investments in the transformation of global energy systems, fostering sustainable economic growth and enhancing long-term value creation.
According to Emirates News Agency, XRG was introduced by ADNOC in November 2024, strategically positioning itself to address the anticipated increase in global energy demand by 2050 and the concurrent demand for advanced artificial intelligence systems. The company plans to focus on lower-carbon energy and technologies to optimize energy production and distribution efficiently.
The newly appointed Board of Directors comprises experts from diverse fields such as energy, chemicals, infrastructure, investment, and technology, preparing XRG to execute its ambitious growth strategy. H.E. Dr. Sultan Ahmed Al Jaber,
who serves as the Executive Chairman, brings extensive experience as the UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC. Board members include H.E. Mohamed Hassan Alsuwaidi, H.E. Dr. Ahmed Mubarak Al Mazrouei, H.E. Jasem Al Zaabi, Jon Gray, Nassef Sawiris, and Bernard Looney, each contributing unique expertise from their respective sectors.
XRG plans to focus on three strategic growth platforms: the International Gas Platform, the Global Chemicals Platform, and the Low-Carbon Energies Platform. The International Gas Platform aims to develop a comprehensive gas portfolio to meet the projected global demand increases, while the Global Chemicals Platform seeks to position itself among the top five global leaders in chemical production. The Low-Carbon Energies Platform is set to invest in scalable solutions for hydrogen, ammonia, biofuels, and decarbonization technologies.
H.E. Dr. Sultan Al Jaber emphasized XRG’s mission under the UAE’s leadership to unlock value
across high-growth sectors and geographies, leveraging advanced technologies and strategic investments. XRG is expected to commence operations in the first quarter of 2025, marking a significant step in ADNOC’s commitment to expanding its global energy investment footprint.
