(World Oil) – XRG has completed the acquisition of an additional equity interest in Trains 4 and 5 of the Rio Grande LNG project in Texas, expanding its ownership across all five liquefaction trains currently under construction at the export facility.
The company acquired an additional 7.6% equity interest in Trains 4 and 5 from an acquisition vehicle of Global Infrastructure Partners (GIP), part of BlackRock, building on its earlier purchase of an indirect 11.7% stake in Phase 1, which includes Trains 1 through 3. Financial terms were not disclosed.
Located at the Port of Brownsville, the NextDecade-operated Rio Grande LNG project currently has approximately 30 MMtpa of liquefaction capacity under construction. The facility is expected to receive first gas during the second half of 2026, with LNG production scheduled to begin in the first half of 2027.
XRG said the transaction strengthens its strategy of building a global gas and LNG portfolio, with North America serving as a key growth region.
“Completing this transaction marks an important step in the execution of XRG’s global gas strategy,” said Mohamed Al Aryani, president of XRG’s International Gas business. “Rio Grande LNG is a textbook example of a world-class infrastructure project that helps connect advantaged U.S. gas supply with international demand.”
According to NextDecade, Trains 4 and 5 will add approximately 12 MMtpa of LNG production capacity and are supported by long-term LNG sales agreements with investment-grade customers.
The transaction received all required regulatory approvals, including clearance from the Committee on Foreign Investment in the United States (CFIUS).
XRG’s North American portfolio also includes investments in chemicals and advanced materials, including Borouge International’s platform through NOVA Chemicals.
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