Saudi Aramco introduced on 26 June that it has signed a non-binding Heads of Settlement (HoA) for a 20-year sale and buy settlement (SPA) for 5mn t/y of LNG from the deliberate Port Arthur Section-2 US export venture. The HoA was signed in Dhahran, Saudi Arabia, and likewise contains the potential for Aramco taking a 25% stake within the 13mn t/y Section-2. The $13bn 13mn t/y Section 1 is at the moment below growth.
The HoA comes lower than two weeks after Aramco signed an MoU with US developer NextDecade to offtake 1.2mn t/y from Rio Grande LNG’s deliberate fourth prepare. (CONTINUED – 264 WORDS)
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