Saudi Aramco's 20-Year LNG Supply Deal with NextDecade
Saudi Aramco has signed a non-binding agreement to supply 1.2 million tonnes of liquefied natural gas annually for 20 years with US-based NextDecade. The LNG will come from the Rio Grande facility in Texas. This deal is part of Aramco's strategy to expand its global presence and follows recent acquisitions in Pakistan, China, and India.
Saudi Aramco has signed a non-binding agreement with US-based NextDecade to supply 1.2 million tonnes of liquefied natural gas (LNG) per year for 20 years.
The LNG will come from the fourth liquefaction train at NextDecade's Rio Grande facility in Texas.
Negotiations are underway for a binding agreement, contingent on a positive investment decision.
Aramco aims to expand its global energy footprint, as evidenced by recent acquisitions and ongoing discussions in Pakistan, China, and India.
The firm continues to lead in financial performance, with a net profit of $27.27 billion for Q1 2024.