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Aramco Agrees HoA for 1.2mtpa for 20 Years from Rio Grande LNG

LNG

Subsidiaries of Saudi Aramco and NextDecade have agreed a non-binding Heads of Agreement for the sale and purchase of LNG for 20 years from Train 4 at the Rio Grande LNG Facility in Texas.

  • Aramco expects to purchase 1.2mtpa of LNG on a free on board basis at a price indexed to Henry Hub.
  • Aramco and NextDecade are currently in the process of negotiating a binding agreement which will be subject to a positive FID expected in H2 2024.
  • "We look forward to finalizing the terms of a long-term LNG offtake agreement with NextDecade, as we explore opportunities to expand our presence in international energy markets. We expect LNG to play an important role in meeting the rising demand for secure and efficient energy said” Nasir K. Al-Naimi, Aramco Upstream President.
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