ADNOC’s XRG Expands Stake in Rio Grande LNG Project in Texas
July 2, 2026
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 project that helps connect advantaged U.S. gas supply with international demand,” said Mohamed Al Aryani, President of XRG’s International Gas business.
“We are pleased to have XRG as a strategic investor across all five trains at Rio Grande LNG. 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,” added Matt Schatzman, NextDecade Chairman and CEO.
According to XRG, Trains 4 and 5 are expected to have a combined LNG production capacity of approximately 12 million tonnes per annum.
Rio Grande LNG currently has approximately 30 million tonnes per annum of liquefaction capacity under construction across its five trains and is expected to begin production in the first half of 2027, with first gas into the facility expected in the second half of 2026.
