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NO. 1: Saudi Arabian Oil Co., aka Aramco, has signed a tentative agreement to purchase 1.2 million metric tons/year (mmty) of LNG from NextDecade Corp.’s Rio Grande export project in South Texas.
Aramco, which has been working to expand its liquefied natural gas portfolio, would purchase the super-chilled fuel from Train 4 at Rio Grande over 20 years at prices tied to Henry Hub. NextDecade sanctioned the first 17.6 mmty phase of Rio Grande last year. It expects to sanction the 5 mmty Train 4 by the end of the year.
Venture Global LNG Inc. also agreed to provide a subsidiary of Ukrainian power producer DTEK with more than 2 mmty. Under a heads of agreement with D.Trading, Venture Global said it would supply LNG later this year through the end of 2026 from its Plaquemines terminal that is currently under construction. It would also supply 2 mmty for 20 years from the CP2 terminal being developed in Louisiana.
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