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Aramco Announces 17 U.S. Preliminary Deals Worth Over $30 Billion During Crown Prince’s Washington Visit

The move underscores a push to expand in U.S. LNG through non-binding MoUs that build on a broader deal drive launched in May.

The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. REUTERS/Benoit Tessier/File Photo

Overview

  • Saudi Aramco said it signed 17 preliminary agreements with U.S. companies with a potential aggregate value exceeding $30 billion.
  • The slate centers on liquefied natural gas, financial services, advanced materials manufacturing, and procurement.
  • Named LNG tie-ups include a potential investment with MidOcean Energy in the Lake Charles project and a deal with Commonwealth LNG on a Louisiana liquefaction venture.
  • Additional partners include Baker Hughes and Halliburton on energy services, as well as Blackstone and JPMorgan on financing-related arrangements.
  • Aramco did not disclose values for individual agreements, describing the MoUs as steps that follow a May wave of preliminary deals cited at up to $90 billion.