XRG has announced plans to increase its stake in NextDecade’s Rio Grande LNG project, a liquefied natural gas (LNG) export terminal facility at the Port of Brownsville in Texas, US.
The energy investment company, owned by the Abu Dhabi National Oil Company (ADNOC), will acquire an additional 7.6% equity interest in Trains 4 and 5 at the project from Global Infrastructure Partners (GIP), a subsidiary of BlackRock. This move is part of XRG's strategy to bolster its position in the global LNG market.
The acquisition follows XRG’s earlier investment in phase one of the project, where it purchased an indirect 11.7% stake in Trains 1–3 through the same partner. As part of this previous transaction, ADNOC Trading secured a 20-year LNG offtake agreement for 1.9 million tonnes per annum (mtpa) from Train 4.
Trains 4 and 5 are each expected to produce approximately 6mtpa of LNG, with long-term agreements already in place with high-credit-quality offtakers.
The Rio Grande LNG facility is expected to play a significant role in the US economy by generating more than 5,000 construction jobs and approximately 700 long-term positions in the Rio Grande Valley.
Financial specifics of the current transaction remain undisclosed, and it is contingent upon customary closing conditions and regulatory approvals.
XRG international gas business president Mohamed Al Aryani said: “Expanding our investment in Rio Grande LNG reinforces XRG’s commitment to delivering on our global gas strategy and advancing the vital role LNG plays in providing reliable and flexible energy supply to international markets.
“The project continues to progress well, with strong construction momentum marking steady steps toward bringing new LNG capacity online.
“By growing our presence in US LNG, we are strengthening a resilient, globally scaled gas platform while further deepening the UAE [United Arab Emirates]–US energy partnership – supporting energy security, jobs and investment‑driven growth.”
In September 2025, NextDecade made a positive final investment decision on Train 4, fully funding it along with its related infrastructure and issuing a full notice to proceed to Bechtel Energy.
Train 4 is supported by long-term sales agreements with ADNOC, TotalEnergies and Aramco. Completion and first delivery are anticipated by late 2030.
Similarly, in October 2025, NextDecade approved Train 5's development and funding. Train 5 is backed by agreements with JERA, EQT and ConocoPhillips, and is expected to be operational by early 2031.
Both trains have estimated project costs of $6.7bn each, covering engineering, procurement and construction costs, owner expenses, contingencies, financing fees, construction interest and other related outlays.
With a total potential liquefaction capacity of around 48mtpa currently under construction at Rio Grande LNG and space for up to ten trains on-site, NextDecade aims to become one of the largest LNG export companies globally.
