AI is a once-in-a-generation investment opportunity, says ADNOC CEO as company grows U.S. investments
ADNOC aims to grow its U.S. energy investments six-fold to $440 billion in the next 10 years, said Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology & UAE Special Envoy for Climate, Group MD & CEO of ADNOC, and Chairman of Masdar.
'For us, the United States is not just a priority, it is an investment imperative,' Jaber said in a Washington event, adding that AI represented a once-in-a-generation investment opportunity.
Jaber spotlights key UAE investment in U.S. energy
During his participation, Jaber also highlighted the UAE's recent anchor investment in the largest liquefied natural gas plant in Texas, investments in petrochemical plants across the U.S., and a planned addition of 5.5 gigawatts of renewable energy and storage 'from coast to coast.'
He also said that UAE renewable energy firm
Masdar
has just opened an office in Washington, and called investment in the United States an 'investment imperative.'
Last month, the ADNOC CEO confirmed that the UAE plans to increase its energy investments in the U.S. to $440 billion by 2035. Al Jaber announced the strategy during a presentation to U.S. President Donald Trump, which took place during his recent visit to the UAE.
The value of UAE investments in the U.S. energy sector will be boosted to $440 billion by 2035 from $70 billion now, Al Jaber told Trump, adding that U.S. energy firms will also invest in the UAE. 'Our partners have committed new investments worth $60 billion in upstream oil and gas, as well as new and unconventional opportunities,' Al Jaber said.
Read: UAE to raise U.S. energy investments to $440 billion by 2035, says Al Jaber
Key deals driving UAE energy investments in U.S.
XRG, the international investment arm of ADNOC, is seeking to make a significant investment in U.S. natural gas, Al Jaber said. Notably, ADNOC's stakes in NextDecade's Rio Grande LNG export facility and a planned ExxonMobil hydrogen plant were transferred to XRG, which was launched last year with $80 billion in assets. The company also has a mandate to pursue global deals in chemicals, natural gas and renewables.
As part of the $200 billion UAE investment announcement, ExxonMobil, Occidental Petroleum and EOG Resources are partnering with the UAE's Abu Dhabi National Oil Company (ADNOC) for expanded oil and natural gas production valued at $60 billion that will help lower energy costs and create hundreds of skilled jobs in both countries.
During Trump's visit to the UAE, Holtec International and IHC Industrial Holding Company (IHC) also entered into a cooperation to build a fleet of Holtec's SMR-300 small modular reactors, starting at the Palisades site in Michigan.
This agreement includes a commitment of $10 billion, and an additional $20 billion for fleet projects, helping to revitalize American nuclear energy infrastructure, strengthen domestic energy security, and create high-skilled jobs in engineering, construction and advanced manufacturing across the United States.
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