Rio Grande LNG Gains ADNOC’s XRG as New Equity Partner

XRG has acquired an 11.7% stake in Phase 1 of the Rio Grande LNG project in Brownsville, Texas—its first U.S. gas investment. The deal, made with Global Infrastructure Partners, advances construction of Trains 1–3 and ties into ADNOC’s long-term LNG offtake plans.

(P&GJ) — XRG P.J.S.C. has closed on the purchase of an 11.7% equity stake in Phase 1 of the Rio Grande LNG project in Brownsville, Texas, marking its first gas infrastructure investment in the United States.

The investment, made through Global Infrastructure Partners (GIP), a BlackRock company, covers Trains 1–3 of the project. Construction of those trains is progressing, while Train 4 reached final investment decision earlier this month.

Rio Grande LNG is among the largest U.S. export projects, with a potential liquefaction capacity of 48 million tons per year across its full buildout. At peak, construction is expected to employ more than 5,000 workers and create 350–400 permanent jobs once operational.

“This acquisition reflects XRG’s strategy to build a leading global gas and LNG business to meet structural demand from industry, AI, and economic growth,” the company said.

The deal, first announced in May 2024, underscores XRG’s broader international gas portfolio, which spans the Caspian, Africa, and the Americas. In addition, parent company ADNOC has signed a 20-year offtake agreement for 1.9 MMtpy of LNG from Rio Grande’s Train 4.