Market Chatter: Aramco Reportedly Signing Memoranda of Understanding With NextDecade, Sempra for LNG Supply

MT Newswires Live05-13

Aramco's chief executive Amin Nasser said the Saudi Arabian state-owned oil company will sign memoranda of understanding Tuesday with NextDecade (NEXT) and Sempra (SRE), to supply around 6.2 million tons of liquid natural gas to Aramco, Reuters reported Tuesday.

Nasser made the statment at the US-Saudi Investment Forum. Aramco is seeking to become a big player in the LNG market, Reuters said.

NextDecade is a Texas-based liquefied natural gas producer and Sempra is a utility company based in California. Aramco also plans to invest $3.4 million to expand Motiva's Port Arthur, Texas, refinery, Reuters reported.

Aramco, NextDecade and Sempra didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 8.50, Change: +0.75, Percent Change: +9.69

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