Skip to content Skip to Search
Skip navigation

Aramco and Adnoc to invest in US LNG projects

By Pramod Kumar
Saudi Aramco and Adnoc are in talks over LNG offtakes with Sempra and NextDecade, respectively Reuters/Issei Kato
Saudi Aramco and Adnoc are in talks over LNG offtakes with Sempra and NextDecade, respectively

Two of the biggest oil companies in the Gulf region plan to invest in US liquefied natural gas (LNG) projects.

Saudi Aramco, the world’s largest oil company based on daily production, is holding discussions to invest in the second phase of Sempra Infrastructure’s Port Arthur LNG project in Texas, Reuters reported, citing informed sources.

Aramco is in talks to acquire some or all volumes from one of the two liquefaction units at Port Arthur’s second phase. Each unit can produce up to 13.5 million tonnes per annum.

Abu Dhabi National Oil Company (Adnoc) is in talks with Texas-headquartered LNG exporter NextDecade for a potential offtake from a proposed fourth processing unit at the $18 billion Rio Grande LNG export facility.

Last month, Adnoc closed the acquisition of a 25 percent stake in Austrian energy and chemicals group OMV.

Despite the anticipated doubling of US LNG capacity over the next four years, various LNG project developers are facing financial challenges in advancing their export terminals as investors become more discerning.

Regulatory pressures on banks to prioritise ESG issues add to the complexities, the report said.

Latest articles

Migrants attempting to reach Italy from Tunisia. About 270,000 so-called irregular migrants arrived in the EU via sea crossings last year

EU reveals total aid to North Africa to combat migration 

The European Union provided €673 million ($718 million) in funding to four North African countries from 2021-23 to help the quartet reduce what it calls irregular migration to the 27-member bloc, official data shows. Last year about 270,000 “irregular migrants” arrived in the EU via sea crossings, 64 percent more than in 2022. Crossings from […]

The SPA report highlighted a number of metrics as being on target, including home ownership of 53.7 percent

Third of Vision 2030 projects ‘completed’ government says

One third of 1,064 planned projects have been completed so far under the Vision 2030 economic transformation plan, the Saudi government said in its annual progress report on the reform programme.   The report also said 561 initiatives were on track, according to the state-owned Saudi Press Agency, publishing its major findings. It was not […]

Tawfik Alzaidi

Saudi director’s labour of love takes the kingdom to Cannes

For the first time a Saudi film has been selected to compete in the Cannes film festival, catapulting its little-known self-taught director into the limelight. Tawfik Alzaidi was so surprised that he’d managed to break through to the big time that he kept the news that his film Norah had been accepted for the ‘Un […]

Joby Aviation's CEO JoeBen Bevirt (2nd left) at the signing of a multilateral agreement with the three Abu Dhabi government departments

Abu Dhabi signs multiple deals to launch air taxi services in 2025

A commute from Abu Dhabi to Dubai could take only 30 minutes next year, with the introduction of air taxi services significantly slashing travel time between the emirates. The electric aircraft manufacturer Joby Aviation signed agreements this week with Abu Dhabi’s Department of Municipalities and Transport, Department of Economic Development and Department of Culture and […]