financetom
Business
financetom
/
Business
/
Aramco to sign MoUs with NextDecade, Sempra for 6.2 million tons of LNG
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Aramco to sign MoUs with NextDecade, Sempra for 6.2 million tons of LNG
May 26, 2025 6:49 AM

RIYADH, May 13 (Reuters) - Saudi Aramco will sign on

Tuesday memoranda of understanding with U.S. liquefied natural

gas producer NextDecade ( NEXT ) and utility firm Sempra ( SRE )

, Aramco's chief executive said, as the oil giant expands

in the LNG market.

"The U.S. today, in terms of gas, is almost 100 billion

(dollars) in sales ... and it is continuously increasing,"

Aramco's CEO Amin Nasser told the U.S.-Saudi Investment Forum in

Riyadh.

"The U.S. is really a good place to put our investment," he

added, noting that under the MoUs Sempra and NextDecade ( NEXT ) would

supply around 6.2 million tons of LNG to Aramco.

The United States is already the world's largest exporter of

LNG and producers have plans in place that would double capacity

in coming years.

NextDecade ( NEXT ) last month signed a deal with a subsidiary of

Aramco, which is seeking to become a big player in the LNG

market, under which the U.S. firm will supply the superchilled

gas from its Rio Grande facility for 20 years.

"We do have other investments. So we're looking at, by 2030,

almost seven and a half million tons of LNG," Nasser noted,

speaking of expansion plans.

Nasser also said that one of the investments that Aramco

plans to sign on Tuesday involved an expansion of the Motiva

Port Arthur's refinery in the U.S., noting the oil giant would

invest $3.4 billion in the refinery.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ford Recalls Over 29,000 F-150 Lightning Vehicles Over Detached Control Arm, NHTSA Says
Ford Recalls Over 29,000 F-150 Lightning Vehicles Over Detached Control Arm, NHTSA Says
Jun 2, 2025
08:07 AM EDT, 06/02/2025 (MT Newswires) -- Ford Motor ( F ) is recalling 29,501 F-150 Lightning battery electric vehicles because of a detached front upper control arm that may result in a loss of vehicle steering and control, increasing the risk of an accident, the US National Highway Traffic Safety Administration said in a report. The recall concerns certain...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Deals of the day-Mergers and acquisitions
Deals of the day-Mergers and acquisitions
Jun 2, 2025
June 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1200 GMT on Monday: ** British investment firm Rosebank Industries said it has restarted talks to buy U.S.-based Electrical Components International, which makes wire harnesses, for under $1.9 billion. ** France's Sanofi has agreed to buy U.S.-based Blueprint Medicines Corporation for over $9 billion to boost...
Market Chatter: HSBC to Allocate $4 Billion to Private Credit Lending
Market Chatter: HSBC to Allocate $4 Billion to Private Credit Lending
Jun 2, 2025
08:06 AM EDT, 06/02/2025 (MT Newswires) -- HSBC ( HSBC ) will allocate $4 billion to its private credit funds, Reuters reported Monday, citing an interview with Nicolas Moreau, chief executive of the company's asset management business. It's an arms race, he said, according to Reuters. Moreau said the new funds will initially target clients in the UK and Asia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved