State oil giant Saudi Aramco is in ‘serious’ talks to buy a stake in Novatek’s Arctic LNG project, the Kingdom's Energy Minister Khalid Al-Falih said on Thursday.

 

“The deal’s price and terms have not yet been determined, but I hope an agreement can be reached this year,” Al-Falih noted, adding, “Aramco is exploring several liquefied natural gas (LNG) investments in USA, Russia and Australia.”

 

Saudi Aramco tapped huge gas reserves in the Jafurah Basin, East of Ghawar, under the company’s unconventional gas exploration program. It also made progress on several new gas processing plants.

 

Read: Saudi Aramco in talks with Russia's Novatek on LNG project

 

In 2018, Leonid Mikhelson, CEO of Russia's Novatek, said that the company showed interest in Saudi Aramco's potential investments in the Arctic LNG-2 plant, Argaam reported.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request