• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 2 days Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 2 hours America's pandemic dead deserve accountability after Birx disclosure
  • 7 hours Biden about to face first real test. Russia building up military on Ukraine border.
  • 4 days Trump punches back at Fauci and Birx's revisionist history (aka lies)
  • 24 mins Fukushima
  • 38 mins CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 2 days U.S. and Chinese investors to buy Saudi pipelines , $10 Billion deal.
  • 3 days Create a new law "Postericide" to prosecute and imprison Climate Change "Deniers"
  • 13 hours New Chinese Coal Plants Equal All those in U.S.A
  • 21 hours Does .001 of Atmosphere Control Earth's Climate?!
  • 4 days Goldman Betting on Cryptocurrencies
  • 9 hours The coming Cyber Attack
  • 2 days NG spot prices hit triple digits for weekend delivery
Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Aramco Looks To Build An LNG Fleet

Aramco’s shipping division has issued an expression of interest in the chartering of up to a dozen LNG carriers beginning in 2025, Reuters reports, citing industry sources.

Liquefied natural gas is a big part of Aramco’s diversification efforts seeking to reduce its almost exclusive dependence on crude oil exports through a bigger focus on natural gas and petrochemicals.

The company’s expansion into natural gas will be an international endeavor, Aramco said earlier this year during its first-ever investor conference call. A few months earlier, the Saudi company sealed a deal with Sempra Energy to buy 5 million tons of LNG annually from Sempra’s Port Arthur plant.

The Port Arthur facility has yet to be built and Aramco has also negotiated a 25-percent stake purchase in its first phase of development. The project includes the construction of two liquefaction trains along with up to three storage tanks and the relevant infrastructure.

Later this year, in November, Aramco also inked a contract with the Bangladesh Power Development Board for the supply of LNG to the energy-hungry country, to be used for power generation.

Asia is an obvious destination for Saudi Arabia’s future LNG exports, and Aramco is looking at investment opportunities to source this LNG from across the world, from Australia to Russia, and also in Africa: the three hot spots in LNG today.

The company also has plans to step up its domestic natural gas production and replace some of the oil it uses for power generation with gas, so it can sell more oil abroad.

For now, the Sempra Energy Port Arthur deal is the only one finalized, however, when it comes to supply. There are no details about Aramco’s LNG interests in Australia and Africa, and its plans to take a stake in Novatek’s Arctic LNG 2 project have yet to come to fruition.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News