The United Arab Emirates’ largest oil company, Abu Dhabi National Oil Co. (ADNOC), is making significant strides to expand its footprint in the United States.
Sources familiar with the matter have revealed that ADNOC is looking to acquire its first natural gas-producing fields in the US, further strengthening its presence in the country’s energy sector. This move follows the company’s recent purchases of chemical plants and liquefied natural gas (LNG) export facilities across the US.
ADNOC’s Chief Executive Officer, Sultan Al Jaber, is expected to outline the company’s investment strategy, with a particular focus on the US market, during his speech at the prestigious CERA Week energy conference in Houston. Following the conference, Al Jaber plans to visit Washington, DC for high-level meetings concerning both his leadership role at ADNOC and his position as the UAE’s Minister of Industry and Advanced Technology.
This expansion aligns with the UAE’s broader efforts to strengthen ties with the United States, especially in line with President Donald Trump’s push to attract foreign investment and boost domestic energy production. In addition to energy deals, Emirati companies have also explored opportunities in technology, artificial intelligence, and data center development in the US.
While ADNOC has yet to confirm any specific acquisition targets, the company’s interest in gas-producing assets comes at a time when the US shale industry is seeing a slowdown in dealmaking. However, the Trump administration’s early push for increased energy investments has sparked renewed interest in deals, signaling a potential revival of market activity.
In recent years, ADNOC has been one of the most active global energy dealmakers, acquiring assets across the US, Europe, and Africa. Its 2024 acquisition of a stake in NextDecade Corp.’s LNG export project in Texas marked its first foray into the US market, and it has since secured additional stakes in Exxon Mobil’s hydrogen projects.
Additionally, ADNOC recently reached a deal with OMV AG to form a $60 billion chemicals giant, which includes joint ventures with US-based Nova Chemicals.
The potential acquisition of gas fields would offer ADNOC access to essential fuel and feedstock for its expanding chemical plants and LNG export operations. The company’s newly established unit, XRG, focused on international gas and chemical deals, will oversee these US investments. With a target enterprise value of $80 billion, XRG aims to double its size within a decade.
