XRG Eyes LNG Canada Stake Amid Global Supply Shift
Abu Dhabi's XRG is exploring the possibility of acquiring a stake in the LNG Canada export project, a move that aligns with its ambition to become a top-five supplier of natural gas and petrochemicals. The state-owned group has been holding discussions with existing backers, including PetroChina, about buying some of their holdings.
The potential purchase fits with XRG's plans to expand its global presence, which was accelerated by the war in the Middle East. The conflict highlighted the importance of supply from outside the region and increased demand for alternative sources of natural gas.
LNG Canada, one of North America's largest operating plants, began production in 2025 with an estimated investment of $28.5 billion. Partners Shell, Petroliam Nasional Bhd., PetroChina, Mitsubishi Corp., and Korea Gas Corp. are considering a multibillion-dollar project to double the facility's capacity.
XRG has been expanding its portfolio through various acquisitions, including a stake in the Rio Grande LNG project in Texas and a gas project in Argentina. The company aims to explore opportunities in oil and gas production facilities and LNG in Canada.