ADNOC eyes upstream, LNG investments in Canada

ADNOC eyes upstream, LNG opportunities in Canada

Canada

CALGARY, June 10, 2026 – ADNOC said it is exploring opportunities in Canada’s upstream and LNG sectors through XRG, its international investment arm, Reuters reported on Tuesday.

ADNOC CEO of upstream Musabbeh Al Kaabi said in statements to Reuters at the Global Energy Show in Calgary that he was encouraged by Canada’s renewed focus on energy development as the country seeks to grow its hydrocarbons output and diversify its exports beyond the US amid tariff threats from President Donald Trump.

Kaabi did not identify specific investment targets in Canada. The UAE, which exited OPEC in April 2026, has been increasing its participation in energy projects overseas through its international investment arm XRG, which launched in April 2024. ADNOC already has a Canadian presence through Nova Chemicals, which has operations in Alberta.

Canada is the world’s fourth-largest crude oil producer and fifth-largest natural gas producer, and its emerging LNG export sector has drawn interest from global buyers, including Germany’s SEFE and Uniper. Canadian Prime Minister ‌Mark ⁠Carney made an official visit to the UAE late in 2026, which Al Kaabi said, “Set the tone for more collaboration in the near future.”

XRG focuses on international investments in natural gas, chemicals and scalable energy projects.

Photo courtesy of ADNOC

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