UAE's XRG eyes stake in Canada’s flagship LNG project

XRG, the overseas investment division of Abu Dhabi National Oil Company, is reportedly pursuing a stake in LNG Canada, the nation’s flagship liquefied natural gas export plant. Shell, one outlet 40% owner, is contemplating selling as much as three-quarters of its interest, creating an opening for a buyer. XRG, aiming to rank among the world’s five largest gas suppliers, has recently expanded its portfolio with a purchase in the Southern Gas Corridor and a cooperation MoU with Germany’s state-run SEFE.

The Gulf firm is also said to be in talks with PetroChina, which holds a 15% share in LNG Canada. These moves follow XRG’s earlier deals, including a licence in Venezuela’s offshore Loran field and a Brazil-approved joint venture for an Argentine LNG project. The potential transaction would deepen the UAE’s presence in North American LNG markets and Europe’s gas supply chain.