DUBAI, June 3 (Reuters) - XRG, the international

investment arm of Abu Dhabi National Oil Company (ADNOC), is

aiming to have a gas and LNG business with a capacity of between

20 million and 25 million metric tons a year by 2035, the

company said in a statement on Tuesday.

XRG was set up last year as an investment company focused on

lower-carbon energy, gas and chemicals, with assets of more than

$80 billion.

On Tuesday, its board, whose members include former BP

CEO Bernard Looney and Blackstone's Jon Gray, approved

the capacity target and a new five-year business plan. Board

members also supported the assessment of potential gas

acquisitions and LNG opportunities in North America.

ADNOC's current US investments already sit under XRG, and

the oil giant's Chief Executive Sultan Al Jaber said in March

that XRG would make a significant investment in U.S. natural gas

in coming months.

The United Arab Emirates, a key ally of U.S. President

Donald Trump, plans to raise its U.S. energy investments to $440

billion in the next decade from $70 billion, Jaber said last

month.

XRG has also changed the name of its low carbon energies

platform to Energy Solutions to reflect the full scope of the

company's strategy, including energy demand linked to artificial

intelligence and the digital economy, a company spokesperson

said on Tuesday.

The board "endorsed the company's ambition to create a top

three global chemicals platform," XRG said.

ADNOC had agreed in October to buy German chemicals maker

Covestro for 14.7 billion euros ($16.73 billion) including debt.

Jaber later said it would sit under XRG.

($1 = 0.8787 euros)