Aramco and Adnoc to invest in US natural gas projects

Aramco and Adnoc to invest in US natural gas projects

Two of the biggest oil firms in the Gulf region plan to invest in US liquefied natural gas (LNG) projects. Saudi Aramco, the world’s largest oil producer, is holding discussions to invest in the second phase of Sempra Infrastructure’s Port Arthur LNG project in Texas, Reuters reported, citing informed sources. The Saudi company is in […]Two of the biggest oil firms in the Gulf region plan to invest in US liquefied natural gas (LNG) projects.

Saudi Aramco, the world’s largest oil producer, is holding discussions to invest in the second phase of Sempra Infrastructure’s Port Arthur LNG project in Texas, Reuters reported, citing informed sources.

The Saudi company is in talks to acquire some or all volumes from one of the two liquefaction units at Port Arthur’s second phase. Each unit can produce up to 13.5 million tonnes per annum.

Simultaneously, the UAE’s energy major Adnoc is in talks with Texas-headquartered LNG exporter NextDecade for a potential offtake from a proposed fourth processing unit at the $18 billion Rio Grande LNG export facility.

Last month, the Abu Dhabi energy company closed the acquisition of a 25 percent stake in Austrian energy and chemicals group OMV.

Despite the anticipated doubling of US LNG capacity over the