UAE President endorses appointment of Board of Directors of XRG

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has endorsed the Board of Directors for XRG, a transformative international energy investment company.

Launched by ADNOC in November 2024 with an enterprise value exceeding $80 billion (AED290 billion), XRG will prioritise strategic investments that capitalise on the transformation of global energy systems, enable sustainable economic growth, and enhance long-term value creation.

XRG is uniquely positioned to drive this transformation, addressing the increase in global energy demand by 2050, alongside a surge in the demand for advanced artificial intelligence (AI) systems that will use as well as optimise energy production, distribution, and efficiency. The company will also advance lower-carbon energy and technologies.

The newly appointed Board of Directors brings world-class expertise across energy, chemicals, infrastructure, investment, technology, sustainability and economic development. Their expertise positions XRG to execute its ambitious growth strategy.

Dr. Sultan Ahmed Al Jaber, with over 25 years experience spanning the energy, industrial, investments, infrastructure, sustainability and advanced technology sectors, will act as Executive Chairman.

He said, “XRG is a transformative investment company, uniquely positioned to unlock value across high-growth sectors, geographies, and value chains that are underpinned by strong market fundamentals.

Building on over half a century of Abu Dhabi’s global leadership in energy and investment, XRG combines unparalleled knowledge, access to smart capital, building and nurturing strong partnerships, expanding into new markets, and leveraging advanced technologies, with an agile approach to strategic investments across the full energy value chain.

"Initially focused on the energy, low carbon and chemicals sectors, XRG is committed to delivering innovative, sustainable, and disruptive solutions that create long-term value for partners, customers, and stakeholders and supporting the accelerated need for Energy in AI. I look forward to working closely with my colleagues on the XRG Board and our international partners to create new opportunities and lasting value and socio-economic impact.”

Other appointments to the Board include Mohamed Hassan Alsuwaidi, UAE Minister of Investment and Managing Director and CEO of ADQ, Bernard Looney, Chairman of Prometheus Hyperscale and former CEO of BP, and Nassef Sawiris, Executive Chair of OCI Global.

The company will focus on addressing megatrends, including the exponential growth of artificial intelligence (AI), the transformation of global energy systems, and the rising energy demands of emerging economies, where population growth and urbanisation are reshaping energy markets.