Amin Nasser, the CEO of Saudi Aramco, said his company is looking at more investments in liquefied natural gas (LNG) to boost its plans to become a leading player in the seaborne gas market, according to a report.
“LNG is important…we’re looking at additional investments that are currently in the pipeline to be one of the leading players in LNG in the market,” Nasser told the Energy Intelligence Conference on Tuesday. The event is being held in London says it brings together “decision-makers and innovators from the private sector, government and civil society to discuss…competing views and plot tangible paths forward” for the industry.
In September, Aramco said it had agreed to acquire a strategic minority stake in LNG company MidOcean Energy for $500 million, with an option to increase the size of the shareholding.
Nasser’s comments are significant as they follow-on newsmaking comments from Aramco’s Upstream President Nasir Al-Naimi two weeks ago in Bloomberg.
“We see indications that the LNG market is positioned for structural, long-term growth,” he said in written answers to emailed questions. “Aramco’s intention is to become a leading global LNG player,” Al-Naimi said.
Aramco has previously considered an offtake and stake in Port Arthur LNG in the United States. The oil giant also trades in LNG, according to Reuters.
