ADNOC’s XRG has completed the acquisition of an additional equity interest in Trains 4 and 5 of the Rio Grande LNG project in Texas, increasing its participation…
ADNOC’s XRG has completed the acquisition of an additional equity interest in Trains 4 and 5 of the Rio Grande LNG project in Texas, increasing its participation across all five trains currently under construction at the liquefied natural gas (LNG) export facility.
The transaction increases XRG's overall participation in the NextDecade-operated project through the acquisition of an additional 7.6% equity interest in Trains 4 and 5 from an acquisition vehicle of Global Infrastructure Partners, part of BlackRock.
The acquisition builds on XRG's initial investment in Rio Grande LNG, through which the company acquired an indirect 11.7% stake in Phase 1 of the project, including Trains 1, 2 and 3, also through Global Infrastructure Partners.
The transaction received all customary regulatory approvals, including clearance from the Committee on Foreign Investment in the United States (CFIUS).
“Completing this transaction marks an important step in the execution of XRG’s global gas strategy and our ambition to build a resilient, integrated, and globally scaled platform across gas, LNG, and chemicals.
“The world needs reliable energy resources as well as export infrastructure, pipelines, storage, and market access required to move energy where it is needed. Rio Grande LNG is a textbook example of a world-class infrastructure
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