Saudi Aramco to Sign Two US LNG Deals During Crown Prince’s Washington Visit

Saudi Aramco will sign LNG supply deals with Woodside Energy and Commonwealth LNG during Crown Prince Mohammed bin Salman’s upcoming visit to Washington.

RoydadNaft –  Saudi Aramco is set to sign two U.S. liquefied natural gas supply agreements with Woodside Energy and Commonwealth LNG during Saudi Crown Prince Mohammed bin Salman’s visit to Washington next week, sources familiar with the matter told Reuters.

The world’s largest oil exporter aims to become a major LNG player, particularly in the United States, where export capacity is expected to nearly double over the next four years. Aramco has already secured deals with other U.S. firms, including NextDecade’s Rio Grande LNG.

Aramco targets 20 million tons per annum of LNG capacity, with 4.5 million tons currently under development, CEO Amin Nasser said on an analyst call in August.

Aramco is expected to secure up to 2 million tons per annum of LNG from Commonwealth LNG’s proposed facility in Cameron, Louisiana, according to three industry sources.

A separate deal with Woodside will see Aramco acquire a stake in the company’s $17.5 billion Louisiana LNG project and secure an offtake agreement for up to 2 million tons per annum, four sources said.

Aramco declined to comment. Woodside said it does not comment on market speculation and referred to a prior agreement to explore collaboration with Aramco. Commonwealth LNG did not immediately respond to a request for comment.

For Commonwealth LNG, the deal advances its plan to sell 8 million tons per annum from the plant’s 9.5 million tons per annum capacity. The company aims to build the U.S.’s first fully integrated LNG export facility, with major shareholder Kimmeridge supplying gas from Eagle Ford shale production. A final investment decision is expected by year-end.

Woodside granted final approval in April for its three-train, 16.5 million tons per year Louisiana LNG plant, with production slated to begin in 2029.

https://roydadnaft.ir/English/16066Copied!