The UAE will spend more on energy in the US, reaching $440 billion by 2035
The UAE will spend $440 billion on energy projects in the US in the next 10 years. This was shared in a tweet by Abu Dhabi National Oil Company (ADNOC) on Friday. It supports US President Donald Trump’s plan to make big business deals during his visit to the Gulf.
UAE-US Investments
The announcement happened during a meeting between Trump and important business leaders in Abu Dhabi. Trump also watched a presentation called “Unlocking the Energy Potential of the US-UAE Partnership.”
Dr. Sultan bin Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology and the CEO of ADNOC, shared the UAE’s plan during a presentation to Trump at the end of his visit to the Gulf.
Al Jaber said that the value of UAE investments in the US energy sector will grow from the current $70 billion. He also said that US energy companies will invest more in the UAE.
“Our partners have promised new investments worth $60 billion in oil and gas in the UAE, including new and different projects,” Al Jaber said.
$1.4 Trillion Investment Plan
In March, senior UAE officials met Trump and promised to invest $1.4 trillion in the US over 10 years. This plan aims to build stronger ties between the UAE and the US.
The plan focuses on growing UAE investments in the US economy, especially in areas like artificial intelligence (AI), semiconductors, energy, and manufacturing, the White House said.
Trump said in Abu Dhabi, “We are making great progress on the $1.4 trillion the UAE plans to spend in the US. The two countries also agreed to let the UAE buy advanced AI semiconductors from American companies, which is a very big deal.”
Investments in US Natural Gas
XRG, the international investment branch of ADNOC, plans to invest a lot in the US natural gas sector, said Al Jaber, who is also XRG’s chairman.
ADNOC moved its shares in NextDecade’s Rio Grande LNG export project and a planned ExxonMobil hydrogen plant in Texas to XRG.
XRG was created last year with $80 billion to make deals worldwide in chemicals, natural gas, and renewable energy.
Last month, Mubadala Energy, part of Abu Dhabi’s second-largest wealth fund, signed an agreement with US company Kimmeridge to buy parts of US gas projects.
Mubadala Energy will buy 24.1% of Kimmeridge’s SoTex HoldCo. This gives them access to Kimmeridge’s gas production in Texas and a liquefied natural gas project in Louisiana. The project expects to make a final decision this year and start operations in 2029.
ADNOC’s companies were listed in Forbes Middle East’s Top 100 Listed Companies 2024: ADNOC Gas was 12th, ADNOC Distribution 41st, ADNOC Drilling 44th, and ADNOC Logistics & Services 60th.
Published: 19th May 2025
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