Saudi Aramco holding LNG talks with Tellurian, NextDecade
6/5/2024
Aramco is in talks with U.S. firms Tellurian and NextDecade on two separate LNG projects as the Saudi firm seeks to boost its gas trading and production.
U.S. gas production has boomed over the past decade with oil majors and Aramco's rivals such as Qatar Energy competing to build several projects to export gas to Europe and Asia. The state energy firm is in talks with Tellurian to buy a stake in its 27.6-MMtpy Driftwood LNG plant near Lake Charles, Louisiana.
Aramco is also in talks with U.S. LNG firm NextDecade for a long-term gas purchase agreement from a proposed fifth processing unit at its $18-B Rio Grande facility.
Aramco is seeking to strengthen its position in the LNG market, which is set to grow globally by 50% by 2030, especially in the United States, where LNG capacity is set to almost double over the next four years.
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