A leading LNG player
We’ve now entered the global LNG business by acquiring a stake in MidOcean Energy, an LNG company formed and managed by US investment firm EIG. The agreement builds on the relationship between Aramco and EIG, which was part of a consortium that acquired a 49% stake in Aramco Oil Pipelines Company, a subsidiary of Aramco, in 2021.
“The LNG market is positioned for structural, long-term growth, and MidOcean Energy is well equipped to capitalize on rising LNG demand, particularly in Asia and Europe, where LNG import infrastructure continues to expand,” Al-Naimi explains.
“We will continue to explore a range of domestic and international opportunities in key LNG geographical nodes to optimize potential trading synergies and meet the world’s rising need for secure, accessible, and more-sustainable energy,” he adds.