Abu Dhabi National Oil Company (ADNOC) is exploring potential investments in Canada’s upstream and liquefied natural gas (LNG) sectors through its international investment arm, XRG, a senior executive revealed during the Global Energy Show in Calgary, Reuters reported.
Musabbeh Al Kaabi, ADNOC’s Upstream CEO, stated that while no specific projects have been identified yet, the company is encouraged by Canada’s renewed focus on advancing its energy sector.
The move aligns with the UAE’s broader strategy to expand its global energy footprint, particularly through XRG, which was recently established to pursue international investment opportunities.
Meanwhile, Canada is seeking to diversify its energy export markets beyond the United States amid ongoing tariff concerns. In this context, Prime Minister Mark Carney conducted an official visit to the UAE late last year to strengthen bilateral cooperation.
ADNOC already maintains a presence in Canada through its portfolio company, Nova Chemicals, which operates in Alberta.
