Saudi Aramco and ADNOC are reportedly in talks to invest in US LNG projects.

Saudi Aramco and Abu Dhabi's ADNOC are reportedly in talks to invest in US LNG projects, aiming to compete with oil majors and Qatar in the rapidly expanding LNG market. Demand for liquefied natural gas is projected to grow by 50% by 2030, and both energy giants are seeking to exploit their fossil fuel resources in the US, which has become the world's largest LNG exporter. Saudi Aramco is in talks for phase 2 of Sempra Infrastructure's Port Arthur LNG project in Texas, while ADNOC is in talks with US LNG firm NextDecade for an offtake from a proposed fourth processing unit at its Rio Grande LNG export facility.

March 06, 2024
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