MNI BRIEF: Canada Business Closure Rate Highest Since Pandemic

MNI CNB WATCH: More Easing, But Tight Policy Still Needed

MNI China Daily Summary: Thursday, September 26

MNI BRIEF: China GDP Growth Likely 4.8% In Q3 - BOC

EZ/UK Bond Supply Calendar: 5/5/10-Year BTPs / CCTeu Due Friday

US EIA:NAT GAS STORAGE +47 BCF TO 3,492 BCF SEP 20 WK

MNI: US NAR AUG PENDING HOME SALES INDEX 70.6 V 70.2 IN JUL

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NATGAS: Saudi Arabia Taking First Steps To Be Major LNG Player

NATGAS
Energy BulletsBulletPower BulletsCommodities

Saudi Aramco has taken the first steps to become a major LNG player, said Abdulkarim Al-Ghamdi the head of its natural gas business, with an increased stake in MidOcean Energy this month, according to Reuters.

  • Saudi Arabia’s state shipping company Bahri plans to build a fleet of natural gas carriers as the kingdom prepares to develop its new natural gas resources, according to Bloomberg.
  • Bahri aims to start with building about 20 to 30 new carriers for LNG, hydrogen and ammonia in joint ventures with unnamed partners, CEO Ahmed Ali Alsubaey said.
  • Saudi Arabia is working to ramp up gas supply by developing the Jafurah field to supply to the domestic power industry, with the remainder exported as hydrogen or LNG. More gas will be available for sale as use of renewable energy increases, Alsubaey said.
  • In June, subsidiaries of Saudi Aramco and NextDecade agreed a non-binding Heads of Agreement for the sale and purchase of 1.2mtpa of LNG for 20 years from the Rio Grande LNG project in Texas. 
166 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Saudi Aramco has taken the first steps to become a major LNG player, said Abdulkarim Al-Ghamdi the head of its natural gas business, with an increased stake in MidOcean Energy this month, according to Reuters.

  • Saudi Arabia’s state shipping company Bahri plans to build a fleet of natural gas carriers as the kingdom prepares to develop its new natural gas resources, according to Bloomberg.
  • Bahri aims to start with building about 20 to 30 new carriers for LNG, hydrogen and ammonia in joint ventures with unnamed partners, CEO Ahmed Ali Alsubaey said.
  • Saudi Arabia is working to ramp up gas supply by developing the Jafurah field to supply to the domestic power industry, with the remainder exported as hydrogen or LNG. More gas will be available for sale as use of renewable energy increases, Alsubaey said.
  • In June, subsidiaries of Saudi Aramco and NextDecade agreed a non-binding Heads of Agreement for the sale and purchase of 1.2mtpa of LNG for 20 years from the Rio Grande LNG project in Texas.