Aramco’s LNG strategy: Opportunities and Options

Saudi Arabia has taken a major step into global gas markets with Saudi Aramco signing a heads of agreement (HoA) with Sempra Energy. The HoA includes a 20-year sales and purchase agreement (SPA) for 5 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from phase 1 of the proposed Port Arthur LNG project in Texas. The agreement also includes a possible 25% equity stake from Aramco in the project.