Today’s LNG offtake and equity announcement with aramco represents an important milestone for the proposed Port Arthur LNG Phase 2 project. This competitively positioned expansion is poised to build off the capabilities of Port Arthur LNG Phase 1 currently under construction to help meet global demand for cleaner fuels. Learn more: https://lnkd.in/eHMUJe5e
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HOA only, but potentially a huge deal and big move by Aramco into U.S. LNG. Investments by ADNOC and Aramco in U.S. LNG: confidence in long-term gas demand, desire to build a bolt-on business and build portfolios, and confidence in future U.S. projects, especially with incumbents.
Sempra and aramco announce a non-binding heads of agreement for LNG offtake and equity in the proposed Port Arthur LNG Phase 2 expansion project. https://lnkd.in/eHMUJe5e
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Visionary | Thought Leader | Collaborator | 5th Generation Texan | Storyteller | Lover of Coffee, Kentucky Bourbon & Cigars
🌟 Exciting News! 🌟 Aramco, a global leader in energy and chemicals, and Sempra, North America's premier energy infrastructure company, have taken a monumental step forward! 🚀 Their subsidiaries have signed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for 5.0 million tonnes per annum (Mtpa) of LNG from the Port Arthur LNG Phase 2 expansion project in Texas. This agreement also includes Aramco's potential 25% equity participation in the project. 🌍 Key Highlights: - **LNG Offtake:** 5.0 Mtpa - **Project Location:** Port Arthur, Texas - **Strategic Partnership:** Aramco's 25% equity participation 🗣️ **Nasir K. Al-Naimi, Aramco Upstream President:** "We are excited to take this next step into the LNG sector. This agreement is a major step in Aramco's strategy to become a leading global LNG player." 🗣️ **Jeffrey W. Martin, Sempra Chairman and CEO:** "The planned expansion of Port Arthur LNG would help facilitate the broad distribution of U.S. natural gas across global energy markets, improving energy security while providing a lower-carbon alternative to coal for electricity production." The Port Arthur LNG Phase 2 project is set to enhance global energy security and resilience, meeting the growing demand for lower-carbon energy sources. 🌱⚡ Stay tuned for more updates on this groundbreaking partnership! #Energy #LNG #Sustainability #GlobalEnergy #Aramco #Sempra #PortArthurLNG #CleanEnergy #EnergySecurity 🌍✨
Sempra and aramco announce a non-binding heads of agreement for LNG offtake and equity in the proposed Port Arthur LNG Phase 2 expansion project. https://lnkd.in/eHMUJe5e
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This is another milestone investment for ANDOC L&S. These eight new LNG carriers - 10 if options are taken - will be delivered from 2028 and will be time chartered for 20 years to ADNOC Group subsidiaries. These vessels are state of the art ships - delivering the most efficient performance in the fleet. They are both a statement of our expansion ambition, and a demonstration of how shipping can meet its global emissions reduction targets. https://lnkd.in/dUtSnMmK
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Saudi Aramco has announced a non-binding deal with the US’s NextDecade for the offtake of 1.2 million tons per year of LNG, the Riyadh-listed oil giant’s latest step towards becoming a global LNG portfolio player... https://bit.ly/3VEAKm6 #Aramco #NextDecade #RioGrandeLNG #lng #uslng #lngportfolio #corporatestrategy #competitiveintelligence Need more intelligence on aramco? Explore the Analyst Dashboard for our latest news, analysis, research and data from the Competitive Intelligence Service >> https://bit.ly/3wNntxw
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Aramco announced its first foray into the global LNG business on Thursday, saying it had agreed to acquire a minority stake in up-and-coming Australian LNG player MidOcean Energy for US$500 million. The world’s biggest oil company also made clear that its LNG ambitions go well beyond this relatively modest initial investment. Learn more >> https://bit.ly/3ZxwYex #Aramco #MidOceanEnergy #EIGPartners #lng #naturalgas Have you registered for the 2023 Energy Intelligence Forum? Gain strategic insights from Leadership Dialogues with not just the CEOs of Aramco and EIG Partners, but also Occidental, Air Products, Baker Hughes, Cepsa, Engie, Eni, Equinor, Gunvor, Inpex, Jogmec, KPC, Octopus, Pavilion, PTTEP, Santos, Shell, TotalEnergies, Varo and Vitol. Be part of the conversation as we discuss, how does a divided world power the planet in a way that is reliable, affordable and clean >> https://bit.ly/3ZvXKm1 #EnergyInADividedWorld #EIForum
Aramco Enters Global LNG Business via Australia Deal
energyintel.com
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First Joint Meeting between MGL & B-LNG after signing Joint Venture Agreement to decide LNG growth road map for next 3 years. Truly a wonderful session on Strategic locations , LNG price mechanism , diversified sourcing of LNG & De Risking of LNG project and Leverage financing from markets. Major Objective of the session was to ensure Doubling-down the pace of green transition.
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https://lnkd.in/d388DCiF Aramco is considering expansion of its LNG footprint to consider large US investments including options such as Sempra, Next Decade projects. Do read the story!
Saudi Aramco considers US LNG deals with Rio Grande, Port Arthur export projects: sources
spglobal.com
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In a bid to further boost its gas arsenal and position in the LNG arena, Aramco executed a non-binding HoA with Sempra, a North American energy infrastructure company, for a 20-year sale and purchase agreement (SPA) for LNG offtake of 5 million tonnes per annum from the Port Arthur LNG Phase 2 (PALNG2) natural gas liquefaction and export terminal expansion project in Southeast Texas with direct access to the Gulf of Mexico. A 20-year sale and purchase agreement! There is obviously a worldwide need for LNG. So, what does the US government do - put a pause of LNG terminal approvals. Meanwhile, the Trudeau government has frustrated the development of LNG terminals in Canada, primarily through government regulatory barriers including long approval timelines. The government’s emissions caps on the oil and gas sector and federal Bill C-69 have also created uncertainty and deterred—if not outright prohibited—investment in the sector. Additionally, the British Columbia government’s “CleanBC” plan to reduce greenhouse gas emissions has added more regulation. Not surprisingly, a recent survey revealed that investors identify regulatory uncertainty as a major deterrent to investment in Canada’s oil and gas sector. I think Pennsylvania state senator Camera Bartolotta summed the situation up nicely at the June 25 API PA Natural Gas and Oil Day event “Get Government the Hell Out of the Way”. #LNG #Texas #export #Aramco #US #Canada
Aramco ups gas game with US project in hot pursuit of shoo-in to global LNG club’s kingpins
https://www.offshore-energy.biz
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Saudi Aramco is looking to expand its LNG footprint by investing in several gas projects worldwide. Riyadh wants to diversify into LNG quickly in order not to further lose LNG market share to regional rivals. Despite Aramco’s ongoing expansion, Saudi Crown Prince Mohammad Bin Salman (MBS) expressed concerns over Aramco’s LNG policy. 🔗 → https://lnkd.in/d-CRMzJK #saudiarabia #energy #lng aramco The following note delves into: - The LNG projects Aramco is interested in - MBS' concerns with Aramco LNG policy - The regional companies MBS is looking to outlast - His views on the U.S. LNG export license halt The note also sheds light on MBS’ ambitions for the country’s LNG portfolio.
Saudi MBS wants more for Saudi Aramco’s LNG portfolio
tacticalreport.com
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Director - Market Development (Vedanta Ltd) / Reliance Industries /London Business School /SP Jain Institute of Management/Chemicals / Metals/ Energy / E Commerce /Startups.
Reality has started prevailing over vanity in the global energy business scenario with LNG being given the due focus as a "transition fuel". There was a mad rush for investments in renewables in the last 5-6 years to move away from fossil fuels. However, a phased transition was not planned and the Russian-Ukraine crisis brought the global leaders to their knees on the energy front. While renewables are the way of life for the future considering the climate change impact, LNG with its lower carbon footprint will remain an important constituent in the global energy mix and will play a balancing role. Global oil leader Aramco`s move to invest in the LNG business comes as a part of its oil business derisking moves after investments in downstream chemical businesses across the world (SABIC, RAPID Malaysia, etc.). In 2020, in a talk at The Policy Times, I argued for due importance to LNG as a "transition fuel" and called for sufficient investments in LNG to move away from coal/oil for energy needs. The link to the talk is posted on my blog - https://lnkd.in/daZ483UH Invite critical views as usual. aramco, #Oil, #Naturalgas, #LNG, #renewables, #globaleconomy, #ARAMCO, #SaudiArabia https://lnkd.in/dAcnnp7e
Saudi Aramco Hunts for More LNG Deals to Meet Surging Demand
bloomberg.com
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Principal LNG Specialist | Procedures and Training Development Lead I LNG Operations I CSU Lead I Operations Readiness Specialist
3wThis is incredible news! The partnership with Aramco is definitely a game-changer for the Port Arthur LNG Phase 2 project. The expansion is going to be a major player in meeting the global demand for cleaner fuels. Exciting times ahead! #CleanEnergy #LNG #Sempra ##LNGExport24 #BechtelCorporation