Abu Dhabi’s XRG is increasing its equity stake in Rio Grande LNG export terminal project in Brownsville, Texas, by acquiring an additional 7.6 percent interest in Train 4 and Train 5. This is from an acquisition vehicle of Global Infrastructure Partners (GIP), further expanding its participation in what is poised to become one of the largest liquefied natural gas export facilities in the world.

Latest Details on XRG’s Stake in Rio Grande LNG Project in Texas

Under the new arrangement, XRG will acquire a 7.6 percent equity interest in Trains 4 and 5 of the Rio Grande LNG project. This will add to its earlier indirect investment in the project’s first phase. Trains 4 and 5 each target about 6 million tons per annum (mtpa) of LNG capacity, contributing to nearly 12 mtpa of incremental production capacity under development in the project’s second phase. Phase 2 of Rio Grande has also already secured long-term offtake agreements. These are also expected to provide revenue as construction progresses.

Financial terms for the additional stake were not disclosed (at the time of writing), and the transaction remains subject to customary closing conditions, including regulatory approvals. The deal also builds on XRG’s earlier investments through GIP – a unit of BlackRock, which facilitated the company’s entry into the project’s first three trains.

The Bigger Picture

Rio Grande LNG export hub is being developed by NextDecade. The LNG facility will provide tens of millions of tons per annum of export capacity. This is in a bid to strengthen U.S. participation in global LNG markets.

XRG was established in late 2024 as the international energy investment arm of Abu Dhabi National Oil Company (ADNOC). Additionally, the investment arm began its U.S. LNG involvement in 2025 with an 11.7 percent indirect stake in Phase 1 for Trains 1-3. This was through GIP, before deciding to expand into Phase 2 for Trains 4 and 5. The latest increase in stake in the Rio Grande LNG project in Texas also continues to build on XRG’s global gas plan to diversify and scale the Emirates’ LNG portfolio. This is also with an end-goal of securing the country’s energy security.

Project Outlook

Phase 1 construction continues, with initial production capacity expected to come online in 2027. Phase 2, which includes Trains 4 and 5, targets completion in the early 2030s.

Rio Grande LNG Export Terminal Factsheet

Developer: NextDecade

Location: Port of Brownsville, Texas

Current Phase: Expansion covering Trains 4 and 5

Phase 2 Capacity: 12 mtpa (6 mtpa per train)

Investor: XRG, with increased stake by 7.6 percent in Trains 4 and 5

Previous Stake: Indirect 11.7 percent in Phase 1 for Trains 1, 2, and 3

Partner: Global Infrastructure Partners (GIP)