XRG outlines five year expansion plan across gas, chemicals, energy: XRG’s, Adnoc’s low-carbon investment arm, board approved a five-year business plan aimed at scaling up the company’s three core pillars — International Gas, Global Chemicals, and Energy Solutions — as it seeks to drive long-term returns, according to a press release.

XRG will establish a top-five integrated global gas and LNG business, setting a target of 20-25 mn tons per annum (mtpa) in capacity by 2035, having already secured an enterprise value of over USD 80 bn in its first six months.

M&A across the pond in the pipeline: The group is assessing upstream gas M&A and LNG moves in the US and Canada to up its regional footprint there, the statement read. Back in March XRG said it would make a “very large and significant investment,” in the US and last month it was reported that XRG would soon begin deploying capital — including in the US — after fine-tuning its internal strategy. The five-year strategy also builds on recent agreements in the US, Mozambique, Egypt, and Turkmenistan.

The company is also moving to establish itself as one of the top three chemicals players, with the proposed formation of Borouge Group International and the planned acquisition of a 91.3% stake in Covestro, anchoring its chemicals portfolio. The platform will focus on polyolefins, performance materials, and new speciality chemicals.

On the energy front, XRG will scale up investments to capitalize on AI-driven power demand growth, particularly in the US, while advancing low-carbon opportunities in biofuels, CCS, and hydrogen. The board directed immediate execution of the plan, prioritizing the disciplined capital deployment, platform integration, and the full value chain expansion.

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