Saudi Aramco Aims to Become Major LNG Player, Says Gas Chief
9/18/2024
(Reuters) — The world's largest oil producer, Saudi Aramco, wants to become a major liquefied natural gas player, the head of its natural gas business said on Tuesday.
Saudi Aramco has taken the first steps to reach a goal of becoming a major LNG player, said Abdulkarim Al-Ghamdi, an Aramco executive vice president, at the GasTech energy conference in Houston.
The Saudi oil giant last year acquired from EIG Global Energy Partners LLC a minority stake in MidOcean Energy for $500 million, its first foray into LNG abroad. This month, it increased its stake to 49%.
In June, Aramco and NextDecade struck a non-binding agreement for a 20-year liquefied natural gas offtake from NextDecade's Rio Grande LNG project at the Port of Brownsville, Texas.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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