Aramco signs preliminary US deal worth more than $30 Billion
Saudi Aramco, the oil giant, said that it signed 17 preliminary agreements with U.S. firms with a total potential value of over $30 billion during a trip to Washington by Saudi Crown Prince.
In a press release, the company said that these projects include liquefied gas, financial services and advanced materials manufacturing, as well as procurement of materials and other services.
Saudi Arabian and U.S. officials highlighted billions of dollars in new investments, and the growing financial ties that exist between the two nations on Wednesday. This coincided with Crown Prince Mohammed Bin Salman's visit to the White House.
Amin Nasser, CEO of Aramco, said that the MoUs and Agreements worth billions of dollars announced today will act as a "springboard" for future progress and strengthen Aramco’s collaboration with American companies.
The agreements are based on memoranda that were signed by Donald Trump, U.S. president during his tour of Gulf states in May. Aramco had signed 34 preliminary contracts worth up to $90 Billion.
Aramco wants to be a major LNG player in the United States and has signed agreements with MidOcean Energy, including a possible investment in the Lake Charles LNG Project, as well as with Commonwealth LNG for a Louisiana liquefaction plant.
The company also announced tie ups with energy giants Baker Hughes, Halliburton and Blackstone as well as financial titans JPMorgan and Blackstone.
The value of the deals was not specified. Reporting by Federico Maccioni, Yomna Al Gebaly and Muhammed al Gebaly in Cairo. Editing by Mark Heinrich & Emelia Sithole Matarise.
(source: Reuters)
