XRG, the international energy investment platform launched by ADNOC, announced the endorsement of its comprehensive five-year business plan (2025-2030) by its Board of Directors on June 3. The strategic roadmap outlines aggressive targets for accelerated global growth, aiming to cement XRG's position as a leading force in international gas, chemicals, and energy solutions, with a keen focus on powering the burgeoning demands of global industry and artificial intelligence (AI).

A key directive from the Board is to establish XRG as a top five integrated global gas and liquefied natural gas (LNG) business. The company has set an ambitious target of achieving 20–25 million tons per annum (mtpa) capacity by 2035. This expansion will be supported by a strategic assessment of potential upstream gas mergers and acquisitions (M&A) and LNG opportunities, particularly aimed at strengthening XRG's North American gas position. This follows a series of recent successful acquisitions and partnerships across the globe, including significant ventures in the United States (Rio Grande LNG), Mozambique (Area 4 Rovuma Basin), Egypt (Arcius Energy), Azerbaijan (Absheron), and Turkmenistan (Offshore Block I).

In the chemicals sector, XRG's Board has mandated the creation of a top three global chemicals platform. This ambitious goal is anchored by the proposed formation of Borouge Group International and the proposed acquisition of Covestro, subject to respective regulatory approvals. This consolidation is expected to create an industry-leading portfolio encompassing polyolefins, performance materials, and future specialty segments, significantly enhancing XRG's global footprint in the chemicals industry.

Furthermore, recognizing the exponential growth in AI-linked power demand, especially in the United States, the Board has directed XRG's Energy Solutions platform to expand its investments across the entire energy value chain. This includes a continued focus on developing select opportunities in carbon capture and storage (CCS) and low-carbon fuels such as biofuels and low-carbon hydrogen.

Since its inception six months ago, XRG has rapidly established an impressive enterprise value exceeding $80 billion, demonstrating its agility and strategic foresight in the dynamic global energy landscape. The newly approved plan focuses on scaling its three core platforms, underscoring a commitment to long-term value creation.

Sultan Ahmed Al Jaber, Executive Chairman of XRG and Managing Director and Group CEO of ADNOC, said in a press statement, "XRG is investing in the energy systems of the future – more integrated, more resilient, and responsive to global demand. With the Board’s endorsement of our five-year business plan, we are scaling platforms in gas, chemicals, and energy solutions to drive long-term value and ensure energy remains a catalyst for sustainable growth and development."