Oil Giant Saudi Aramco in Talks With Commonwealth LNG for Offtake Agreement, Sources Say

(Reuters) – Oil giant Saudi Aramco is in talks with Commonwealth LNG to buy liquefied natural gas from the U.S. company’s facility in Cameron, Louisiana, as it seeks to strengthen its position in the superchilled fuel market, four people told Reuters on Wednesday.

Talks are for 2 million tons per annum (mtpa), two of the people said.

Both Aramco and Commonwealth LNG did not immediately respond to Reuters requests for comment.

Aramco is looking to expand its fast-growing portfolio of LNG, which is set to grow globally by 50% by 2030, especially in the United States, where LNG capacity is set to almost double over the next four years. It has already signed deals with other U.S. players, including NextDecade’s Rio Grande LNG.

Reporting by Marwa Rashad in London and Curtis Willians in Houston; Editing by Nina Chestney and Tomasz Janowski

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