ADNOC Secures 11.7% Stake in NextDecade's Texas LNG Project, 20-Year Offtake Deal

May 20, 2024, 10:12 AM

Abu Dhabi National Oil Company (ADNOC) has made its first investment in a US LNG export project by securing an 11.7% stake in NextDecade's Rio Grande Phase 1 (Trains 1-3) in Texas. The deal includes a 20-year LNG offtake agreement, under which ADNOC will purchase 1.9 million tons per year of LNG from Rio Grande Train 4. This investment reflects ADNOC's strategic bet on future gas demand.