Aramco May Buy Stake in Sempra US Gas Plant, Get LNG Supply [Financial Post (Toronto, Ontario, Canada)]
NextDecade Corporation (NEXT)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Saudi Aramco expanded its drive to tap into US energy supply with an initial agreement to buy a stake in Sempra's Texas liquefied natural gas export plant in a deal that would include fuel shipments from the project. The state oil producer in Saudi Arabia signed a non-binding agreement to purchase a 25% stake in phase two of Sempra's Port Arthur LNG export plant, according to a statement. Aramco would also take delivery of five million tons of LNG a year over two decades. Sempra and Aramco said they expect to reach a binding agreement. Article content Gulf oil producers Saudi Arabia and the United Arab Emirates are tapping into export projects in the US as they add to their portfolios for supply of the fuel. The two countries are pumping cash into domestic gas production to meet power and industrial demand at home, while building trading operation
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News
- Aramco May Buy Stake in Sempra US Gas Plant, Get LNG Supply [Yahoo! Finance]Yahoo! Finance
- Rising US labor costs threaten to derail new LNG projects [Yahoo! Finance]Yahoo! Finance
- Institutional owners may take dramatic actions as NextDecade Corporation's (NASDAQ:NEXT) recent 4.7% drop adds to one-year losses [Yahoo! Finance]Yahoo! Finance
- Why aren't investors piling in to build new LNG projects? [Yahoo! Finance]Yahoo! Finance
- NextDecade: Positive Developments Seem Priced In [Seeking Alpha]Seeking Alpha
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