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Bloomberg reveals Aramco’s plan for the global LNG market

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Bloomberg, citing sources, said Saudi state-owned energy company Aramco is considering investing in liquefied natural gas facilities outside the kingdom.

The agency said Aramco is in the early stages of negotiations with LNG plant developers to buy a stake and secure supplies through the deal.

One of Bloomberg’s interlocutors indicated that Aramco was looking into projects in the US and Asia, while another pointed out that the preference was given to facilities that could easily supply LNG to Asia.

Aramco’s efforts are based on expectations of growth in the consumption of liquefied natural gas in the coming years in the world, against the backdrop of Europe’s attempt to replace Russian gas supplies that it received through pipelines, as well as expectations of growth in the consumption of liquefied natural gas in the coming years in the world. gas demand from China and India.

The agency indicated that Aramco was exploring the purchase of a 25% stake in the Port Arthur LNG project by the American company Sempra in 2019, but the plans were not realized due to the coronavirus pandemic.

Source: Bloomberg.

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