Reported about 1 year ago
Saudi Aramco has signed a non-binding agreement to acquire a 25% stake in Sempra's Port Arthur LNG export plant in the US, along with a deal to receive five million tons of LNG annually over two decades. This move is part of Aramco's strategy to become a global LNG player, as Gulf oil producers like Saudi Arabia and the UAE invest in US export projects to meet domestic energy demand and establish their presence in the international LNG market. This agreement follows Aramco's recent deal to purchase LNG from a Texas project, showcasing the company's expanding footprint in the US energy sector.
Source: YAHOO