ADNOC and Saudi Aramco sign agreement on natural gas and LNG cooperation
Published by Alex Hithersay,
Editorial Assistant
Hydrocarbon Engineering,
The Abu Dhabi National Oil Co. (ADNOC) has signed a framework agreement with Saudi Aramco to explore potential opportunities for collaboration in the natural gas and LNG sectors.
Under the terms of the agreement, ADNOC and Saudi Aramco will jointly assess investment opportunities across the LNG value chain that could improve revenue growth for both companies. They will partner on techno-economic feasibility studies and exchange knowledge and experience in LNG growth markets.
LNG is the fastest-growing hydrocarbon with a growth rate of 4% per annum, twice that of natural gas. Global LNG demand is expected to exceed 500 million tpy by 2035, up from nearly 300 million tpy in 2017.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/12112018/adnoc-and-saudi-aramco-sign-agreement-on-natural-gas-and-lng-cooperation/
You might also like
Hydrocarbon Engineering Podcast
In this episode, Alan Gelder, Senior Vice President of Refining, Chemicals and Oil Markets at Wood Mackenzie, provides a review of downstream markets in 2024 and looks ahead to what 2025 may hold for the sector.
Toyo-Malaysia secures OSBL project to support SAF
Toyo-Malaysia has secured OSBL project to support SAF Production Facility at Pengerang, Johor, Malaysia.