XRG Eyes Major Stake in Energos Infrastructure LNG Assets

XRG, an investment unit of ADNOC in the United Arab Emirates, is reportedly considering buying up to 50% of Energos Infrastructure for approximately $3 billion. The potential deal has not been officially confirmed by XRG, Apollo Global Management, or Energos.

Energos operates 13 floating LNG assets, including FSRUs and LNG tankers that operate under long-term agreements in Brazil, Egypt, Indonesia, Mexico, and the Netherlands. A full or partial sale of Energos is being explored by Apollo Global Management.

XRG's acquisition of a stake in Energos could complement its existing LNG portfolio, which includes stakes in the Rio Grande LNG project in Texas, Vaca Muerta gas assets in Argentina, and LNG assets in Mozambique. XRG aims to build a global portfolio of gas and LNG assets with capacity of around 25 million tonnes per year by 2035.

The deal could also give XRG access to floating assets for receiving, regasifying, and transporting LNG. Meanwhile, shipowners are increasing orders for VLCCs, with over 217 ordered in 2026 compared to just 93 the previous year. The total value of new VLCC orders is estimated at more than $20 billion.