Saudi Aramco announced on 26 June that it has signed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for 5mn t/y of LNG from the planned Port Arthur Phase-2 US export project. The HoA was signed in Dhahran, Saudi Arabia, and also includes the potential for Aramco taking a 25% stake in the 13mn t/y Phase-2. The $13bn 13mn t/y Phase 1 is currently under development.

The HoA comes less than two weeks after Aramco signed an MoU with US developer NextDecade to offtake 1.2mn t/y from Rio Grande LNG’s planned fourth train. (CONTINUED - 264 WORDS)