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/