The transfer, which remains subject to regulatory approvals, is in line with ADNOC’s broader push to streamline its international holdings under XRG
The new projects are part of a broader push to deepen UAE-US energy ties, with the enterprise value of UAE energy investments into the US projected to hit $440bn by 2035
The agreement grants XRG a 38 per cent participating interest in the offshore “Block I” gas and condensate fields located in Turkmenistan’s Caspian Sea region
Arcius Energy will focus on natural gas growth to meet growing regional demand while supporting Egyptian energy security and economic development
XRG will initially focus on transformational global investments that create value across natural gas, chemicals, and lower-carbon energy solutions