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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. 
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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.