XRG has completed the acquisition of an additional equity interest in Trains 4 and 5 of Rio Grande LNG at the Port of Brownsville, Texas. The transaction deepens XRG’s exposure to one of the world’s largest Liquefied Natural Gas (LNG) export facilities by giving it equity interests across all five trains currently under construction.
By completing this transaction, XRG strengthens its strategic presence in the U.S. LNG sector, consistent with its strategy to build a top-tier global gas portfolio, with North America a core growth region. The United States is a strategic region for XRG, supported by abundant resources, rising power demand, AI-led infrastructure growth, reindustrialization, industrial expansion, and a favorable investment environment.
This investment demonstrates XRG’s confidence in the long-term role of U.S. LNG in supporting global energy security. It also reflects the central role the U.S. will continue to play in XRG’s global strategy and in strengthening wider U.S.-UAE energy cooperation.
Mohamed Al Aryani, President of XRG’s International Gas business, said: “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 project that helps connect advantaged U.S. gas supply with international demand.”
“We are pleased to have XRG as a strategic investor across all five trains at Rio Grande LNG,” said Matt Schatzman, NextDecade Chairman and CEO. “This investment reflects strong confidence in the quality and scale of Rio Grande LNG and reinforces our ability to deliver a world-class LNG facility.”
With this transaction, XRG increased its overall participation in Rio Grande LNG, which is operated by NextDecade, by acquiring an additional 7.6% equity interest in Trains 4 and 5 of the project from an acquisition vehicle of Global Infrastructure Partners (GIP), a part of BlackRock. The transaction 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 GIP. The transaction received all customary regulatory approvals, including clearance from the Committee on Foreign Investment in the United States (CFIUS).
XRG’s North American portfolio already includes significant positions across LNG, chemicals and advanced materials, including Rio Grande LNG, and Borouge International’s platform through NOVA Chemicals.
Trains 4 and 5: scaled capacity and long-term offtake underpinning
Together, Trains 4 and 5 are expected to have total LNG production capacity of approximately 12 MTPA. Each train has secured long-term LNG offtake agreements with high-credit-quality customers, providing strong commercial underpinning for the project.
Rio Grande LNG is a significant contributor to the U.S. economy, providing around 7,500 construction jobs during peak construction and approximately 700 long-term jobs in the Rio Grande Valley once the facility is operating.
Rio Grande LNG has approximately 30 million tonnes per annum of liquefaction capacity currently under construction across the 5 trains and is expected to begin production in 1H 2027, with first gas into the facility in the second half of2026. As part of XRG’s initial investment in the project, ADNOC Trading also entered into a 20-year LNG offtake agreement for 1.9 MTPA from Train 4, further strengthening the project’s long-term commercial underpinning.
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