Saudi Aramco signs US LNG deal with Sempra

Aramco, the Saudi state oil giant plans to become a major global gas player while the US market is undergoing a shale boom. (File/AP)
Updated 22 May 2019

Saudi Aramco signs US LNG deal with Sempra

  • Aramco has been developing its own gas resources
  • The proposed Port Arthur LNG Phase 1 project is expected to include two liquefaction trains

DUBAI: Saudi Aramco has entered into a 20-year agreement with US-based Sempra Energy to purchase liquefied natural gas (LNG) from its subsidiary Sempra LNG, the two companies said on Wednesday.
The Saudi state oil giant plans to become a major global gas player while the US market is undergoing a shale boom.
Aramco has been developing its own gas resources and eyeing gas assets in the United States, Russia, Australia and Africa.
The two companies are also finalizing a 25 percent equity investment in the phase 1 of Port Arthur LNG, they said in a joint statement.
The sale-and-purchase agreement is for 5 million tons per annum (mtpa) of LNG from phase 1 of the Port Arthur LNG export project under development, the firms said.
The proposed Port Arthur LNG Phase 1 project is expected to include two liquefaction trains, up to three LNG storage tanks and associated facilities which should enable the export of about 11 mtpa on a long-term basis.
“Port Arthur LNG could be one of the largest LNG export projects in North America, with potential expansion capabilities of up to eight liquefaction trains or approximately 45 mtpa of capacity,” the statement said.
Aramco’s trading arm sold its first LNG cargo on the spot market in late March to an Indian buyer, according to sources familiar with the matter.
Aramco plans to boost its gas production to 23 billion standard cubic feet (scf) a day from about 14 billion scf now.


Arab News recording exposes Nissan lawyer’s lie on IMF bailout for Lebanon

Updated 01 June 2020

Arab News recording exposes Nissan lawyer’s lie on IMF bailout for Lebanon

LONDON: Arab News has published the recording of an interview with a Nissan lawyer after he denied saying that a bailout of Lebanon by the International Monetary Fund (IMF) was linked to the extradition of fugitive tycoon Carlos Ghosn.

The former Nissan chairman fled to Beirut in December from Japan, where he faced charges of financial wrongdoing.

In a story published in Arab News Japan on Saturday, Sakher El Hachem, Nissan’s legal representative in Lebanon, said the multibillion-dollar IMF bailout was contingent on Ghosn being handed back to Japan. 

The lawyer said IMF support for Lebanon required Japan’s agreement. Lebanese officials had told him: “Japan will assist Lebanon if Ghosn gets extradited,” the lawyer said

“For Japan to agree on that they want the Lebanese authorities to extradite Ghosn, otherwise they won’t provide Lebanon with financial assistance. Japan is one of the IMF’s major contributors … if Japan vetoes Lebanon then the IMF won’t give Lebanon money, except after deporting Ghosn.”

On Sunday, El Hachem denied making the comments. “The only thing I told the newspaper was that there should have been a court hearing on April 30 in Lebanon, but it was postponed because of the pandemic,” he said. In response, Arab News published the recording of the interview, in which he can be clearly heard making the statements attributed to him. 

Japan issued an arrest warrant after Ghosn, 66, escaped house arrest and fled the country.

Now listen to the recording: