XRG increases stake in Rio Grande project + Emarat opens up in Armenia

XRG increases stake in Rio Grande project

Adnoc’s international investment arm XRG closed the transaction to increase its stake in the Rio Grande LNG project in Texas — a transaction Adnoc's international investment arm first flagged back in January. XRG picked up an additional 7.6% equity interest in Trains 4 and 5 from an acquisition vehicle of BlackRock's Global Infrastructure Partners (GIP), according to a statement.

The transaction cleared the Committee on Foreign Investment in the United States (CFIUS) along with other customary regulatory approvals — worth noting given how often US foreign-investment reviews have slowed down Gulf deals this year. No investment value was disclosed.

Why it matters: XRG now holds equity in all five trains at Rio Grande LNG, up from three when it first bought in. Combined, Trains 4 and 5 add roughly 12 mtpa of liquefaction capacity to a facility already expected to produce around 30 mtpa in total — one of the largest LNG export builds in the US. XRG also holds a 20-year, 1.9 mtpa offtake agreement from Train 4, so the equity stake now sits alongside a locked-in buyer position. It first bought an indirect 11.7% stake in Rio Grande's Phase 1 (Trains 1-3) in September 2025, also through GIP.

Emarat enters Armenia with its first fuel station

State-owned fuel retailer Emarat's first stop abroad is Yerevan. The retailer has opened its first service station outside the UAE — a launch in the Armenian capital that marks the 50-year-old company's first international expansion.

The station is step one of a bigger build-out. Emarat and Armenia's MegaTrade — part of the SIL Capital portfolio — plan to roll out a network of stations across Armenia, the companies said on LinkedIn. The two firms signed a partnership last year to lay the groundwork.

Why it matters: Armenia is an unusual first stop for a Gulf state fuel retailer better known for its home turf than global ambitions. The move is a small but visible marker of two things worth tracking: UAE downstream energy players looking past a saturated domestic market for growth, and Armenia's deepening commercial ties with the Gulf.

Standard Chartered launches USDC access through DIFC

Standard Chartered launches USDC access: Standard Chartered’s Dubai International Financial Center operations has become the first global systemically important bank to let institutional clients mint and redeem USDC directly through its banking platform, marking another step in the integration of regulated stablecoins into mainstream finance, Wam reports. Institutional clients will be able to access USDC through the lender’s DIFC operations with a single onboarding process without opening a direct account with the stablecoin issuer.

A closer look: The capability, which is initially being rolled out through the bank's Dubai International Financial Center operations, is designed to help institutional clients move funds between traditional banking systems and blockchain networks for activities including on-chain settlement, treasury and liquidity management.