- Aramco announced 17 MoUs and agreements with a potential value of over $30 billion.
- These agreements build on 34 MoUs from May, totaling approximately $90 billion.
- Projects include LNG, financial services, advanced materials, and procurement.
- Involved companies include MidOcean Energy, Commonwealth LNG, SLB, Baker Hughes, and J.P. Morgan.
Overview
Aramco has announced 17 Memoranda of Understanding (MoUs) and agreements with major US companies, valued at over $30 billion. These agreements build on 34 MoUs from May, which had a potential total value of approximately $90 billion.
Strategic Focus
The collaborations aim to support Aramco's strategic growth objectives and involve a range of activities, including Liquefied Natural Gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services.
Key Projects
In the LNG sector, Aramco is exploring potential investments in the Lake Charles Liquefied Natural Gas Project with MidOcean Energy and a liquefaction project in Louisiana with Commonwealth LNG. Aramco Trading is also considering purchasing LNG and gas.
Procurement and Manufacturing
Aramco has established contracts and agreements with strategic US suppliers such as SLB, Baker Hughes, McDermott, Halliburton, NESR, KBR, Flowserve, NOV, Worley, and Fluor. These suppliers will provide high-standard materials and services to support Aramco's projects and operations. Additionally, Aramco is extending an MoU with Syensqo to explore the localization of carbon fiber and advanced composites for industrial applications.
Financial Services
In the financial sector, Aramco's Wisayah asset management has entered into investment agreements with Loomis Sayles, Blackstone, and PGIM, Inc. A strategic collaboration for cash account management has also been established with J.P. Morgan.
