ADNOC Buys 12% Stake in Rio Grande LNG

ADNOC has bought an 11.7% stake in Phase 1 of NextDecade’s Rio Grande LNG export project in Texas, Abu Dhabi’s national oil company said on Monday, announcing its first strategic investment in the U.S. The state energy firm of the United Arab Emirates (UAE) has also signed a 20-year LNG offtake agreement from Rio Grande LNG Train 4 with NextDecade. ADNOC acquired the stake in Phase 1, or trains 1 through 3 at Rio Grande LNG (RGLNG), through an investment vehicle of Global Infrastructure Partners (GIP), one of the world’s…