Reports: Potential Deal for New Saudi Investment in U.S. Energy Sector

Saudi Arabia is reportedly eyeing an investment in U.S. liquefied natural gas (LNG) in what would mark a “sea change in the energy flows between the U.S. and Saudi Arabia,” the Wall Street Journal reported Tuesday citing unnamed sources.

The WSJ reports the “landmark decision” would mark a shift for Saudi Arabia, which in the past has been an energy supplier to the United States.

Saudi Aramco has narrowed its focus to a shortlist of at least four U.S. LNG projects and intends to announce a deal in the first half of this year, Sarah McFarlane and Summer Said of the WSJ report, citing unnamed sources.

Houston-based Tellurian Inc.’s terminal in Louisiana and San Diego-based Sempra Energy’s project in Port Arthur, Texas were reportedly on the shortlist. Aramco already has a massive presence in Port Arthur through its ownership of Motiva, the largest oil refinery in the U.S., as the Houston Chronicle reports.