UAE President Endorses Appointment Of Board Of Directors Of XRG

2024-12-17 07:25:54

(MENAFN- Khaleej Times) 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 (Dh290 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.

- Executive Chairman, Dr Sultan Ahmed Al Jaber

- Board Member, Mohamed Hassan Alsuwaidi

- Board Member, Dr Ahmed Mubarak Al Mazrouei

- Board Member, Jasem Al Zaabi

- Board Member, Jon Gray

- Board Member, Nassef Sawiris

- Board Member, Bernard Looney

XRG underscores Adnoc's commitment to accelerating its international growth in response to the significant global energy investment opportunity. 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.

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