{"id":87375,"date":"2024-06-27T00:00:00","date_gmt":"2024-06-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/27\/aramco-close-to-acquiring-a-25-stake-in-texas-lng-export-plant\/"},"modified":"2024-06-27T00:00:00","modified_gmt":"2024-06-27T00:00:00","slug":"aramco-close-to-acquiring-a-25-stake-in-texas-lng-export-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/27\/aramco-close-to-acquiring-a-25-stake-in-texas-lng-export-plant\/","title":{"rendered":"Aramco close to acquiring a 25% stake in Texas LNG export plant"},"content":{"rendered":"

Aramco signed a non-binding agreement to take a 25% stake in the second phase of <\/strong>Sempra\u2019s Port Arthur LNG export plant<\/strong> in Texas reports Bloomberg<\/a>. The agreement would also include Aramco locking down five mn tons of LNG shipments from the plant each year for 20 years, according to the business information service. No further information on the financial details of the agreement were provided, but the two sides \u201csaid they expect to reach a binding agreement,\u201d Bloomberg said.<\/p>\n

All part of a LNG push: <\/strong>\u201cThis agreement is a major step in Aramco\u2019s strategy to become a leading global LNG player,\u201d said Nasir Al Naimi, Aramco\u2019s upstream business president. Aramco has been pushing further into the LNG market as of late as it seeks to compete for a market share<\/a> in the flourishing gas market. It made its entry into the business last year with a minority stake acquisition<\/a> in Australia\u2019s MidOcean Energy. <\/p>\n

And the push is bearing fruit:<\/strong> Aramco also signed a non-binding agreement<\/a> with US liquefied natural gas (LNG) development company NextDecade<\/a> to supply 1.2 mn tons per annum of LNG for 20 years. Aramco had been in talks<\/a> with NextDecade for a long-term gas purchase agreement from the Texan company\u2019s Rio Grande facility. It has also been involved in negotiations with Houston-based Tellurian over a potential stake purchase in the US firm\u2019s 27.6 mn metric ton per annum (mtpa) Driftwood LNG plant in Louisiana.<\/p>\n","protected":false},"excerpt":{"rendered":"

Both sides expect the completion of the agreement<\/p>\n","protected":false},"author":1,"featured_media":87376,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2570],"tags":[139,2425,10,2044],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-aramco","tag-energy","tag-enterpriseam-ksa","tag-shell","wpautop","entry"],"acf":{"mongo_id":"05f6cc00-c3d9-4432-a604-67a2b0ab2c5a","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1733.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco close to acquiring a 25% stake in Texas LNG export plant","related_issue":[87364],"teaser":"Both sides expect the completion of the agreement","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.5b47af51-c155-4081-85e3-ae4159a7e61b.mp3"},"yoast_head":"\nAramco close to acquiring a 25% stake in Texas LNG export plant - 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