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UAE says value of energy investments in US to rise

five-fold

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US firms to invest $60 billion in UAE energy projects

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Trump says making progress on UAE's $1.4 trillion pledge

(Adds Trump comments in paragraphs 7-10, Jaber quote in

paragraph 4)

DUBAI, May 16 (Reuters) - The United Arab Emirates plans

to increase the value of its energy investments in the United

States to $440 billion in the next decade, it said on Friday,

boosting U.S. President Donald Trump's efforts to secure major

business deals on a Gulf tour.

The wealthy oil power's strategy was announced during a

presentation by Sultan Al Jaber, Abu Dhabi oil giant ADNOC's

chief executive, to Trump during the last stage of his regional

trip that has drawn huge financial commitments from the UAE,

Saudi Arabia and Qatar.

The enterprise value of UAE investments in the U.S. energy

sector will be boosted to $440 billion by 2035 from $70 billion

now, Al Jaber told Trump, adding U.S. energy firms will also

invest in the UAE.

"Our partners have committed new investments worth $60

billion in upstream oil and gas, as well as new and

unconventional opportunities," Al Jaber said in front of a slide

showing projects in the UAE under the logos of U.S. companies

ExxonMobil, Oxy and EOG Resources.

Already in March, when senior UAE officials met Trump, the

UAE had committed to a 10-year, $1.4 trillion investment

framework in the United States to deepen reciprocal ties.

The framework will "substantially increase the UAE's

existing investments in the U.S. economy" in AI infrastructure,

semiconductors, energy, and manufacturing, the White House said

in a statement.

'GREAT PROGRESS'

"We're making great progress for the $1.4 trillion that UAE

has announced it intends to spend in the United States," Trump

said in Abu Dhabi, his last stop on a Gulf tour that has focused

on investment deals, not security crises in the Middle East,

including Israel's war in Gaza.

"Yesterday the two countries also agreed to create a path

for UAE to buy some of the world's most advanced AI

semiconductors from American companies, a very big contract."

Trump said the deal will generate billions of dollars in

business and accelerate efforts by the UAE, an oil power and

regional economic power, to become a major player in artificial

intelligence.

"And I read where - the oil and gas and all is great but

you're going to have equally big, and maybe even bigger - at

some point, you'll be surpassing it with AI and other

businesses, so that's a great tribute to the job you've done

here," Trump told UAE officials on Friday during his visit.

XRG, the international investment arm of ADNOC, is seeking

to make a significant investment in U.S. natural gas, Al Jaber,

who is also XRG's executive chairman and minister of industry

and advanced technology, has said.

ADNOC's stakes in NextDecade's Rio Grande LNG export

facility and a planned ExxonMobil hydrogen plant - both in Texas

- were transferred to XRG, which was set up last year and which

ADNOC has said has $80 billion in assets. It has a mandate to

pursue global deals in chemicals, natural gas and renewables.

Mubadala Energy, an arm of Abu Dhabi's second largest

sovereign wealth fund, last month signed a deal with U.S. firm

Kimmeridge that will give it stakes in U.S. gas assets.