Adnoc, Aramco sign deal on marketing LNG, natural gas

The Abu Dhabi National Oil Company (Adnoc) and Saudi Aramco yesterday signed an agreement to explore potential opportunities for cooperation across natural gas and liquefied natural gas (LNG) value chains.

Under the deal, Adnoc and Aramco will explore opportunities both in the region and internationally to open up new markets and drive new revenues.

Aramco said the deal with Adnoc comes amid growing demand for LNG, which is currently rising at 4 per cent per year.

Amin Nasser, CEO of Saudi Aramco, said the deal between the two companies “shows the increased alignment” between them after they worked together on other deals earlier.

He added that the latest agreement will be a start of more collaboration between Adnoc and Aramco, which already have joint work in India.