What is XRG ?
XRG is a new international investment company focused on low-carbon energy and chemicals.
This company was launched by Abu Dhabi National Oil Company (ADNOC), and its initial capital is over AED 290 billion ($80 billion).
The company will make strategic investments to capitalize on the global energy transition.
It will also contribute to sustainable economic growth and long-term value creation.
HH Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has approved the appointment of the board of directors for XRG.
XRG Board of Directors
XRG board of directors includes:
- H.E Dr. Sultan Ahmed Al Jaber
- H.E Mohamed Hassan Al Suwaidi
- H.E Dr. Ahmed Mubarak Al Mazrouei
- H.E Jassem Mohamed Bu Ataba Al Zaabi
- Jonathan Gray
- Naguib Sawiris
- Bernard Looney
On this occasion, His Excellency Dr. Sultan Ahmed Al Jaber said:
“We appreciate the approval of HH Sheikh Mohamed bin Zayed Al Nahyan on the appointment of the board of directors of XRG.
Which will focus on implementing qualitative investments to create value in sectors with high growth rates in various regions of the world.
And also across value chains based on strong market fundamentals.
Building on more than a half century of Abu Dhabi’s leadership in the global energy sector and investment in vital sectors, XRG possesses a set of advantages including:
Expertise, access to smart capital and building strong global partnerships and relationships.
As well as access to target markets and opening new markets, leveraging advanced technology, confidence in building partnerships, and adopting a flexible approach to implementing strategic investments across the energy value chain.”
Goals
XRG will focus on the following:
- Supporting energy sector developments
- Leveraging the anticipated growth in global energy demand
- Take advantage from the increasing demand on advanced AI systems used in energy production, transmission, and efficiency.
- Promoting low-carbon energy technologies.
The first international conference of its kind in the world for the conservation and development of mangrove trees, organized by the Environment Agency – Abu Dhabi, kicked off today in Abu Dhabi. pic.twitter.com/f4fUajcJM0
— UAE Voice (@uae_voiceeng) December 11, 2024
The board of directors comprises global experts with extensive experience in energy, chemicals, infrastructure, investment.
As well as technology, sustainability, and economic development.
This diverse expertise will support the company in achieving its ambitious growth strategy.
XRG will drive the growth in low-carbon energy and chemicals.
It underscores the UAE’s commitment to sustainable development and its position as a global energy leader.
