Key highlights
- XRG acquires an additional 7.6% equity in Rio Grande LNG's Trains 4 and 5 from Global Infrastructure Partners.
- XRG initially held an 11.7% stake in Phase 1 of Rio Grande LNG through GIP.
- ADNOC Trading has a 20-year LNG offtake agreement for 1.9 MTPA from Train 4.
Transaction Details
XRG P.J.S.C. is set to increase its stake in the Rio Grande LNG project by acquiring an additional 7.6% equity interest in Trains 4 and 5. This acquisition is made through Global Infrastructure Partners, a part of BlackRock.
Previous Investments
XRG's initial investment in Rio Grande LNG involved acquiring an indirect 11.7% stake in Phase 1, covering Trains 1–3, also through Global Infrastructure Partners.
Offtake Agreement
As part of the initial transaction, ADNOC Trading secured a 20-year LNG offtake agreement for 1.9 million tonnes per annum (MTPA) from Train 4.
