XRG Eyes Stake in LNG Canada Amid Global Expansion Talks
Abu Dhabi's XRG is in talks to purchase a stake in LNG Canada, a major natural gas export venture led by Shell Plc. The state-owned company aims to become one of the top five suppliers of natural gas and petrochemicals globally.
The possible stake purchase aligns with XRG's goal of becoming a major global natural gas supplier. Supported by Abu Dhabi's oil wealth, this ambition has gained significance as the Middle East war underscores the value of supply originating outside the region.
XRG has been acquiring assets worldwide and is seeking more. The company has raised its holding in the Rio Grande LNG project in Texas, invested in a gas project in Argentina, holds stakes in facilities in Mozambique and Central Asia, and purchased German chemical maker Covestro AG.