Khaled Bin Mohamed Bin Zayed Engages With XRG Board On Low-Carbon Energy Investments
H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, recently engaged with XRG's Board of Directors. XRG is an investment firm concentrating on international gas, global chemicals, and low-carbon energies. The discussion centred on XRG's investment prospects and its role in addressing the growing global need for lower-carbon energy.
During the meeting, H.H. Sheikh Khaled stressed the importance of prioritising initiatives that align with ADNOC's goals for XRG. He underscored the need to focus on growth in gas, chemicals, and low-carbon energy sectors. Strengthening strategic global partnerships was also highlighted as crucial for achieving leadership's vision through impactful projects that bolster sustainable economic growth.
XRG was officially introduced at ADNOC’s Annual Board of Directors Meeting in November 2024. The company boasts an enterprise value exceeding AED290 billion (US$80 billion). Its mission is to meet the increasing global energy demand while fostering sustainable economic progress by enhancing ADNOC’s international investments in low-emission energy and chemicals.
The meeting included notable attendees such as Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, and Executive Chairman of XRG. Other attendees were Dr. Ahmed Mubarak bin Nawi Al Mazrouei, Chairman of the President’s Office for Strategic Affairs; Saif Saeed Ghobash, Secretary-General of the Abu Dhabi Executive Council; Jon Gray, President and COO of Blackstone; Nassef Sawiris, Executive Chair of OCI Global; and Bernard Looney, Chairman of Prometheus Hyperscale.
H.H. Sheikh Khaled highlighted the necessity for XRG to focus on initiatives that drive growth across key sectors like gas and chemicals while aligning with ADNOC's objectives. Emphasising strategic partnerships globally was seen as essential to realising leadership's vision through high-impact projects supporting sustainable economic development.
The discussions also revolved around how XRG can contribute to meeting the rising global demand for lower-carbon energy solutions. This aligns with ADNOC’s broader strategy to expand its international footprint in low-emission energy sources and chemical industries.
The meeting underscored a shared commitment to advancing projects that support both economic growth and environmental sustainability. By focusing on these areas, XRG aims to play a pivotal role in shaping a more sustainable future while addressing global energy needs effectively.
With inputs from WAM
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