ADNOC moves ahead with LNG investments – London Business News | Londonlovesbusiness.com

In a significant move that underscores ADNOC’s growing ambitions in the global LNG market, the Abu Dhabi-based oil and gas giant has acquired a 11.7% stake in NextDecade’s Rio Grande LNG project in Texas, USA in a yearly 1.9 million ton of LNG supply deal over 20 years.

This strategic investment aligns with ADNOC’s focus on diversifying its energy portfolio and becoming a key player in the international LNG sector.

By focusing on this investment, ADNOC aims to strengthen its position as a reliable clean energy supplier to global markets.

The decision to invest in the Rio Grande LNG project, with a production capacity of 27 million metric tons per annum (MTPA), demonstrates ADNOC’s confidence in the long-term viability of the LNG industry.