ADNOC plans to invest hundreds of billions of dollars to develop the entire U.S. natural gas industry chain

CryptoWorld News reports that, according to the Financial Times of the UK, Abu Dhabi National Oil Company (ADNOC) is planning to invest hundreds of billions of dollars in the United States to build out its natural gas business. The newly appointed Chief Investment Officer of the company’s overseas investment arm, XRG, Nameer Siddiqui, said the company is assessing 29 potential deals to build a vertically integrated global natural gas business, which may cover every link from extracting natural gas, to owning pipelines and processing plants, shipping the gas overseas, and even having regasification facilities and pipelines to end users in destination countries. Siddiqui said the company is evaluating various deal structures—including controlling-stake transactions, drilling joint ventures, and minority equity interests—to serve the growth in global liquefied natural gas demand while also meeting the U.S. natural gas needs for powering data centers. When asked whether XRG has sufficient funding amid the financial challenges brought by the Iran war, Siddiqui said the company’s commitment to invest hundreds of billions of dollars into the U.S. energy value chain will not waver, provided that appropriate return expectations are met.