Latest News

Sources: Saudi Aramco and Commonwealth LNG in negotiations for an offtake agreement

Four people said on Wednesday that Saudi Aramco, the oil giant, is in discussions with Commonwealth LNG about buying liquefied gas from its Cameron, Louisiana facility, to help it strengthen its position in super-chilled fuel markets.

Two people have said that the talks are about 2 million tonnes per annum.

Aramco as well as Commonwealth LNG have not responded to comments immediately.

Aramco wants to increase its LNG portfolio, which is expected to grow by 50% globally by 2030. This is especially true in the United States where LNG capacity will almost double within the next four-years. Rio Grande LNG, NextDecade and other U.S. companies have already signed agreements with Aramco.

(source: Reuters)