XRG, the international energy arm of Abu Dhabi National Oil Company (ADNOC), is acquiring upstream assets in Argentina to support a new liquefied natural gas (LNG) project.
The move targets the Vaca Muerta shale basin, positioning the region as a significant new source of gas for global markets.
The acquisition underscores a strategic shift toward securing long-term feedstock for LNG exports from South America.
By integrating upstream production with downstream liquefaction capabilities, XRG aims to capture value across the entire gas value chain in one of the world's largest shale gas reserves.
This development aligns with broader industry trends of major energy firms expanding their LNG portfolios to meet growing demand in Asia and Europe.
The Vaca Muerta basin has attracted significant international interest due to its vast resources and potential to become a major export hub.