President His Highness Sheikh Mohamed bin Zayed Al Nahyan has endorsed the Board of Administrators for XRG, a transformative worldwide vitality funding firm.
Launched by ADNOC in November 2024 with an enterprise worth exceeding $80 billion (AED290 billion), XRG will prioritise strategic investments that capitalise on the transformation of worldwide vitality programs, allow sustainable financial development, and improve long-term worth creation.
XRG is uniquely positioned to drive this transformation, addressing the rise in international vitality demand by 2050, alongside a surge within the demand for superior synthetic intelligence (AI) programs that can use in addition to optimise vitality manufacturing, distribution, and effectivity. The corporate can even advance lower-carbon vitality and applied sciences.
The newly appointed Board of Administrators brings world-class experience throughout vitality, chemical substances, infrastructure, funding, know-how, sustainability and financial growth. Their experience positions XRG to execute its formidable development technique.
• H.E. Dr. Sultan Ahmed Al Jaber
– Function: Government Chairman
– Background: UAE Minister of Business and Superior Know-how and ADNOC Managing Director and Group CEO. Dr. Al Jaber has over 25 years’ expertise spanning the vitality, industrial, investments, infrastructure, sustainability and superior know-how sectors and has been instrumental in serving to to advance the UAE’s vitality diversification.
• H.E. Mohamed Hassan Alsuwaidi
– Function: Board Member
– Background: UAE Minister of Funding and Managing Director and CEO of ADQ. H.E. Alsuwaidi brings intensive funding expertise throughout a number of sectors, together with utilities, metals and mining, infrastructure, know-how, and agriculture.
• H.E. Dr. Ahmed Mubarak Al Mazrouei
– Function: Board Member
– Background: Chairman of the President’s Workplace for Strategic Affairs and Chairman of the Abu Dhabi Government Workplace, H.E. Dr Al Mazrouei is a pivotal determine within the UAE’s monetary and financial governance.
• H.E. Jasem Al Zaabi
– Function: Board Member
– Background: Chairman of the Abu Dhabi Division of Finance, Chairman of the Board of e& and Vice Chairman of the UAE Central Financial institution. H.E. Al Zaabi’s experience spans finance, funding, know-how, actual property and infrastructure.
• Jon Grey
– Function: Board Member
– Background: President and Chief Working Officer of Blackstone. Mr. Grey is a globally recognised investor and long-serving chief on the largest various asset administration agency. With greater than $1 trillion in Belongings Beneath Administration, Blackstone invests broadly throughout non-public fairness, actual property, infrastructure, vitality, secondaries, credit score and insurance coverage.
• Nassef Sawiris
– Function: Board Member
– Background: Government Chair of OCI World. Mr. Sawiris is a globally recognised investor and enterprise chief with many years of expertise in steering companies throughout sectors together with funding, commodities, building, and infrastructure.
• Bernard Looney
– Function: Board Member
– Background: Chairman of Prometheus Hyperscale and former CEO of bp. Mr. Looney brings huge experience throughout the worldwide vitality provide chain in addition to investing in conventional and renewable energies.
H.E. Dr. Sultan Al Jaber commented, “Beneath the steering of the UAE’s management, XRG is a transformative funding firm, uniquely positioned to unlock worth throughout high-growth sectors, geographies, and worth chains which are underpinned by robust market fundamentals. Constructing on over half a century of Abu Dhabi’s international management in vitality and funding, XRG combines unparalleled information, entry to good capital, constructing and nurturing robust partnerships, increasing into new markets, and leveraging superior applied sciences, with an agile method to strategic investments throughout the complete vitality worth chain.
“Initially targeted on the vitality, low carbon and chemical substances sectors, XRG is dedicated to delivering progressive, sustainable, and disruptive options that create long-term worth for companions, clients, and stakeholders and supporting the accelerated want for Vitality in AI. I stay up for working carefully with my colleagues on the XRG Board and our worldwide companions to create new alternatives and lasting worth and socio-economic influence.”
XRG underscores ADNOC’s dedication to accelerating its worldwide development in response to the numerous international vitality funding alternative. The corporate will give attention to addressing megatrends, together with the exponential development of synthetic intelligence (AI), the transformation of worldwide vitality programs, and the rising vitality calls for of rising economies, the place inhabitants development and urbanisation are reshaping vitality markets.
XRG’s diversified, versatile method ensures it may strategically pivot to establish and spend money on high- return alternatives, initially specializing in three strategic development platforms:
1. The Worldwide Gasoline Platform plans to collaborate with worldwide stakeholders to deal with important vitality challenges of the twenty first century. It goals to develop an intensive built-in fuel portfolio to satisfy the projected 20% enhance in international fuel demand and a 65% rise in LNG demand by 2050. This platform is meant to reinforce international vitality safety and provide dependable, lower-carbon options.
2. The World Chemical compounds Platform goals to be among the many high 5 international leaders in producing important chemical and specialty merchandise, to satisfy the anticipated 70% enhance in international demand by 2050. This platform will facilitate rising urbanisation and industrialisation in rising economies, thereby producing employment alternatives and selling developments in healthcare, agriculture, and know-how by means of the supply of key chemical merchandise.
3. The Low-Carbon Energies Platform goals to speed up vitality transformation and drive sustainable financial development. It would spend money on scalable options for hydrogen, ammonia, biofuels and decarbonisation applied sciences, to satisfy demand for low carbon fuels that’s anticipated to develop by greater than 150% to 2050. XRG will formally start operations in Q1 2025.
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