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Saudi Aramco Signs Long-Term LNG Supply Agreement in Louisiana
Yahoo Finance· 2026-01-15 07:43
Group 1 - Saudi Aramco signed a long-term supply deal with Commonwealth LNG for annual shipments of 1 million tons of liquefied natural gas [1] - The Cameron, Louisiana facility has a nameplate annual capacity of 9.5 million tons of liquefied gas, with the start date delayed to 2031 [1][3] - The deal is part of Aramco's strategy to develop a significant presence in LNG trading, particularly in the United States [3] Group 2 - Commonwealth LNG aims to reach a contracted volume target of 8 million tons annually, which is a condition for making the final investment decision on the project [4] - The construction of the first phase of the project is expected to cost $11 billion and generate annual export revenues of approximately $3.5 billion [4] - Aramco aims to build an LNG capacity portfolio of 20 million tons annually to secure a position in the global market, having already secured 4.5 million tons as of August last year [5]